The information in this article is scary to me. This is not contributing to a sustainable future for Australia - nor really globally for the planet. If profit is to be gained from our resources that should not be at a cost paid by future Australians.
...data sourced from the Land Titles Office reveals the company has bought out 43 farmers in the past two years, in another case of a mining company encroaching on farmland. Gunnedah Mayor Adam Marshall said the mining proposal was dividing the community. "Feelings are mixed," Mr Marshall said yesterday.
"It's perfectly legal, and some of the people have been able to make some very, very good money out of their properties and are very, very pleased.
"The concern is more that the Foreign Investment Review Board allows overseas-owned companies -- and in this case an overseas state-owned company -- to buy Australian land, to mine Australian resources and take them out of our country."
Mr Marshall said mining companies had to seek owners' permission before exploratory drilling but Shenhua was free to drill on its own properties.
The Chinese coal giant's spending spree slips under the FIRB radar, as the Treasury unit only investigates investments totalling more than $230m.
Other multi-million-dollar purchases in the Liverpool Plains have included $12m for 518ha and another $12m for 418ha nearby, $12.5m for 947ha and $5.4m for 424ha of "general farmland"....
Read whole article Chinese mine giant snaps up 43 NSW farms The Australian
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