Reynolds out of Alwest
(NZ.P.A.-Reuter —Copyright) RICHMOND, (Virginia).
The Reynolds Metals Com- , pany said that it is withdrawing, at this time, from II the s3oom Alwest Australian ' >! bauxite project. Reynolds I said that the project, with 'jits two Australian partners, j Dampier Mining Company, I Ltd, and Alwest Property, ,j Ltd, which is a subsidiary of , News, Ltd. was not viable.
Problems had developed with the Alwest Project, it said, when Australia refused . to waive requirements it j holds for foreign companies on ownership rights, and a minimum deposit covering a third of the cost of the plan in non-interest bearing Reserve Bank accounts. t
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Bibliographic details
Press, Volume CXIV, Issue 33664, 14 October 1974, Page 22
Word Count
105Reynolds out of Alwest Press, Volume CXIV, Issue 33664, 14 October 1974, Page 22
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