Participation in Utah equity
(N.Z. Press Assn —Copyright) CANBERRA, Sept. 9.
The Australian Minister for Minerals and Energy (Mr Rex Connor) has told the Utah Company that the time has arrived for there to be proper Australian equity participation in the company.
“I hope for a response from the company in a reasonable time,” Mr Connor told the House of Representatives.
Utah and its affiliate, he said, would take 56 per cent, or s3o9m of the $544m gross profit which would be derived from the export of coking coal to Japan. Only 10.8 per cent w’ould pass to Australian shareholders, and the remainder would go abroad.
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Bibliographic details
Press, Volume CXV, Issue 33944, 10 September 1975, Page 17
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106Participation in Utah equity Press, Volume CXV, Issue 33944, 10 September 1975, Page 17
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