Australia's foreign investment authority has stamped its approval on a Chinese state-backed takeover of miner Aquila Resources.
The iron ore and coal exploration company has not yet agreed to be bought by Baosteel, but told investors on Thursday that the Foreign Investment Review Board had no objections to the A$1.1bn bid, which the Chinese company is pursuing with Australian partner Aurizon Operations.
This is the latest decision by the FIRB that marks its increasing willingness to open up the nation's resources sector to Chinese buyers, or at least treat potential approvals on a case by case basis.
At the beginning of the commodities investment boom in 2009, the FIRB became known for dragging its feet on - or blocking - Chinese buyouts amid a wider political outcry about foreign purchases of resources companies.
Since then, however, the authority has removed restrictions on China's Yanzhou Coal taking full control of its Australian unit, and approved a Chinese takeover of gold miner Sundance Resources, which later fell through.
澳大利亚外国投资审查委员会(Foreign Investment Review Board)批准了中国国企宝钢(Baosteel)收购澳大利亚铁矿石和煤矿勘探企业Aquila Resources的交易。
Aquila Resources还没有同意被宝钢收购，但该公司周四告诉投资者，澳大利亚外国投资审查委员会不反对宝钢与澳大利亚合作伙伴Aurizon Operations提出的11亿澳元的出价。
然而，此后，澳大利亚外国投资审查委员会解除了对中国兖州煤业(Yanzhou Coal)完全控股其澳大利亚分公司的限制，并批准了中国对澳大利亚金矿商Sundance Resources的收购，尽管后来该收购交易告吹。