BHP chairman worried over growing Chinese investments
22 May 2009
BHP Billiton chairman Don Argus warned that growing Chinese investment in Australia's mining sector will be critical for the country.
"Australia needs to be most careful that it does not forfeit the economic merit of our resources sector," said Argus, on the sidelines of the Australia-China Business Council meet yesterday.
Argus urged the Federal government to be cautious when ruling on Rio Tinto's deal with Chinalco.
He said Australia was dealing with government-backed groups keen to access the nation's resources companies in the present environment.
"We have Brazil Inc, Russia Inc and now we are seeing China Inc," he said.
However, he was reluctant in speaking against the particular deal.