Hon Bill Marmion BE MBA MLA

Hon Bill Marmion BE MBA MLA

Former Minister for State Development; Transport; Innovation

    China trade mission builds investment links

    2/06/2015 12:00 AM
     
    • Conditional offtake agreement for WA iron ore project
    • Wide-ranging talks with Shandong Province investors
    • Increased WA-China geological co-operation

    Mines and Petroleum Minister Bill Marmion hopes for more investment from China's Shandong Province, after meeting government and corporate leaders.

     

    "It is important we build on the strong partnerships we enjoy with Shandong, so I was honoured that our party was welcomed by Vice Governor Wang Shujian," Mr Marmion said.

     

    "The Provincial Bureau of Geology and Mineral Resources and Shandong Gold are already major players in WA's gold, coal, iron ore, nickel, alumina and uranium sectors."

     

    The Minister said he was also delighted to witness the signing of a conditional iron ore offtake agreement between the Shandong Iron and Steel Group and a subsidiary of Rutila's joint venture partner, Todd Corporation.

     

    "This signifies continuing confidence in Western Australia's world-leading resources industry and is good news for our State," he said.

     

    "It is important that we keep on looking forward and maintain a measured, long-term view.

     

    "China and regional powers like India and Indonesia still have much growth potential and the demand for WA iron ore will continue."

     

    Mr Marmion emphasised WA's stability as an investment destination and the moderating costs of doing business in the State.

     

    The Minister's 10-day trade mission heads to Beijing today, where he will meet with the China Geological Survey to discuss its memorandum of understanding with the Geological Survey of WA.

     

    The two organisations are working together on a four-year program, including geological surveys in the Yalgoo region of Western Australia and China's Beishan region.

     

    Fact File

    • Rutila Resources Limited continues to develop the port and rail infrastructure project known as 'Balla Balla Infrastructure' (BBI), part of the BBJV with Todd Corporation of New Zealand, which includes the Balla Balla magnetite deposit
    • Key groups attending the Shandong meetings included WA Department of Mines and Petroleum, Shandong Foreign Affairs Office, Shandong Department of Lands and Resources, Shandong Geological and Exploration Bureau, Shandong Coal Field Geological and Exploration Bureau, Shandong Department of Commerce, Shandong Gold Group, Shandong Energy Group, Yancoal Group, Xinfa Group
    • In Beijing the WA delegation will meet the China Ministry of Land and Resources and the China National Offshore Oil Corporation
    • China is WA's largest market, with exports valued at $71 billion in the 2013-14 financial year, 54% of the State's total exports

    Minister's office - 6552 6800