BHP export off?
NZPA-AAP Canberra The Australian steel producer, BHP, has backed away from a proposal to sell six million tonnes of steel to China each year. BHP’s managing director, Mr Brian Loton, says it is extremely unlikely the company will invest the sAust7 billion in new plant needed if the steel required is to be produced. The Prime Minister, Mr Hawke, announced the steel export plan in February after talks with the Chinese Premier, Zhao Ziyang, on his Asian tour. Mr Loton cast doubt on the whole idea by saying “I can’t see any motive to invest to set up the capacity to export steel when there is a major surplus of steel right around the world.”
Talks in Canberra later in February included BHP, CRA (Hammersley Holdings), Cliff Robe River and the Australian Coal Association.
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Press, 21 April 1984, Page 21
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137BHP export off? Press, 21 April 1984, Page 21
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