China Companies Told to Withdraw Mining Deals, Australian Says

China Companies Told to Withdraw Mining Deals, Australian Says

By Robert Fenner

April 25 (Bloomberg) -- The Australian government has told at least 10 Chinese companies to withdraw applications to invest in Australian resource producers, the Australian newspaper reported, without citing anyone.

The government told the Chinese investors to resubmit their applications to the Foreign Investment Review Board at a later date so it can consider their ``national interest'' merits, the Australian reported.

Some of the Chinese applications are seeking advance approval to take future stakes in Australian companies that are yet to be publicly announced, the report said.

Foreign investors must seek government approval to make an investment of more than A$100 million ($94 million) in an Australian company. The FIRB advises Treasurer Wayne Swan who can object to any investment based on ``national interest.''