Mining magnate and lawmaker Clive Palmer plans to introduce a bill into Australia’s parliament opposed to the planned A$2.2 billion ($2.1 billion) takeover of GrainCorp Ltd. by U.S.-based Archer-Daniels-Midland Co.
Australian mining magnate Clive Palmer, who’s planning to build a modern replica of the Titanic, aims to start talks next year to sell stakes in a potential $8 billion natural gas project in Papua New Guinea.
The race to open a $40 billion coal region in Australia is being led by billionaires Gina Rinehart and Clive Palmer. Victory depends on who wins approval to build a 500-kilometer (310-mile) railroad to the coast.
Resourcehouse Ltd. , the Australian coal and iron-ore company seeking to raise as much as $3.6 billion in a Hong Kong share sale, may cut the price of the offering, two people with knowledge of the matter said.
Australian Treasurer Wayne Swan said resource tycoons including Gina Rinehart, Clive Palmer and Andrew Forrest are threatening the nation’s democratic process by using their wealth to shape policy to their interests.