Canberra gave China's Minmetals the green light to buy the bulk of Oz Minerals yesterday, but laid down a string of conditions that will be studied closely by other Chinese groups seeking to invest in Australia's resources sector.
It comes as the Australian government deliberates on whether to approve a US$19.5bn investment by Chinalco, the Chinese metals producer, in Rio Tinto, the debt-laden mining group.
That deal – the biggest overseas investment yet by a Chinese group – has attracted opposition from shareholders and nationalist politicians in Australia.
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