Fear of job losses rise in Australian agribusiness amid souring ties: AustCham China survey
By GT staff reporters Source: Global Times Published: 2020/12/16 21:32:08 Australia fears job losses after exports to China fall
Bottles of Australian wine on the shelf of a supermarket in Hangzhou, East China s Zhejiang Province on November 27, 2020 Photo: VCG
Source: GT
As Australian exports to China fall amid fraught bilateral ties, Australian agribusinesses have a growing fear of job losses and the wine sector, being hit hardest, is the most concerned about anti-dumping investigations, an industry survey finds.
Trade with China has supported the Australian labor market. A majority (54 percent) of companies believed that a decrease in exports to China will result in job losses. The wine sector indicated that it will experience greater job losses compared with other subsectors, with 73 percent stating that decreased exports will lead to job losses, according to an agribusiness sur
Thunderbird mineral sands mine gets Chinese buy-in approval from Foreign Investment Review Board
TueTuesday 15
updated
WedWednesday 16
Sheffield Resources has built accommodation for the Thunderbird mine in anticipation of funding.
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A proposed half-a-billion dollar zircon and titanium dioxide mine in Western Australia has been given approval to sell 50 per cent of the project to a Chinese steel producer to raise the funds needed for construction.
Key points:
FIRB and Commonwealth approves a $143 million Chinese buy-in of a proposed Wa mineral sands mine
Yansteel is a privately owned Chinese steel producer and will own 50 per cent of the project
Sheffield (ASX:SFX) share price whizzes 34% higher, hitting 52-week-high
Aaron Teboneras | December 15, 2020 5:49pm |
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Sheffield Resources Ltd(ASX: SFX) share price whizzed higher today, hitting a 52-week high of 48 cents in mid-afternoon trade before retreating. This comes after the Foreign Investment Review Board (FIRB) gave the nod for an investment by its proposed joint venture partner,
YGH Australia Investment Pty Ltd.
At close of trade today, the Sheffield share price was swapping hands for 39 cents, up 21.87%.
What’s driving the Sheffield share price up today?
In today’s release, Sheffield advised that FIRB has cleared the pathway for Yansteel to invest $130.1 million in a 50% stake of the Thunderbird Mineral Sands project. The favourable outcome will see Sheffield and Yansteel become equal strategic partners.
Australia s Sheffield Resources gets nod for $98 mn funding by Chinese firm business-standard.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from business-standard.com Daily Mail and Mail on Sunday newspapers.
US$105 million in cash
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Highlights
· Resolute Mining Limited (Resolute or the Company) has entered into a binding agreement to sell the Bibiani Gold Mine in Ghana to Chifeng Jilong Gold Mining Co. Ltd (Chifeng).
· Cash consideration will be payable as follows:
· US$5 million deposit on signing the agreement; and
· US$100 million on completion, expected by March 2021 following satisfaction of government approvals and other conditions.
· Chifeng intends to progress the redevelopment of Bibiani as soon as is possible.
· Chifeng is an international gold mining company listed on the Shanghai Stock Exchange operating five mines, including the world class Sepon gold mine in Laos.