THE MUNSTA BOARD

[SPARK]

Chinese Firm Offers to Buy Australia's Energy Metals

http://online.wsj.com/article/SB125237950076691435.html

By ROSS KELLY

SYDNEY -- China Guangdong Nuclear Power Holding Co., or CGNPH, Tuesday offered 83.6 million Australian dollars (US$71.6 million) for control of Energy Metals Ltd., adding to a wave of Chinese investment in Australia's natural resources.

State-owned CGNPH's offer to buy 70% of the operator of the proposed Bigrlyi uranium project in Australia's Northern Territory also signals China's first significant corporate move into one of the world's biggest uranium producing nations.

The offer comes amid a low point in relations between China and Australia following the detainment last month of four employees of Anglo-Australian mining giant Rio Tinto Ltd., including Australian citizen Stern Hu, on charges of bribery and infringing on state secrets. It also comes as disquiet grows among some politicians and commentators about the amount of Chinese investment in Australia's mining sector.

Also Tuesday, China Railways Materials Commercial Corp. proposed to take substantial stakes of around 12% in two Australian iron ore juniors, United Minerals Ltd. and FerrAus Ltd.