June Labour Force, Inflation, ALP PresidencyJuly 13, 2000
Bob Carr, GST, Kim Beazley’s leadershipJuly 25, 2000
Foreign Investment Proposal: Rio Tinto Limited/North Limited
The Treasurer has announced that the Government has no foreign investment policy
objections to the proposal by Rio Tinto Limiteds (RTL) to acquire up to 100 per cent
of North Limiteds share capital on condition that:
The Treasurer has received assurances from RTL of its intentions to run combined
corporate office functions of a successfully merged RTL/North Ltd in Melbourne. The
combined corporate office functions will be those of a nature currently carried out in the
Melbourne corporate office of RTL.
The decision by the Treasurer under the Foreign Acquisitions and Takeovers Act 1975
was taken on advice from the Foreign Investment Review Board (FIRB). In examining large or
otherwise significant proposals, the FIRB consults on a strictly confidential basis with
State, Territory and Commonwealth departments and authorities with responsibilities
relevant to the proposed activity of the foreign investor. The proposal is examined
against the background of the Governments foreign investment policy.
Any other foreign investment proposal in relation to North Limited will be subject to
the same FIRB processes.
24 July 2000
Contact: Janine Murphy
02 6263 3763