Fed: Nat interest vital in Xstrata-WMC takeover: Vaile

AAP General News (Australia)
02-10-2005
Fed: Nat interest vital in Xstrata-WMC takeover: Vaile

The federal government says Australia's national interest has to be front and centre
in any decision on the proposed takeover of miner WMC Resources by the Swiss-based Xstrata.

Trade Minister MARK VAILE says WMC's control of the Olympic Dam uranium mine in South
Australia means that the national interest question cannot be overlooked.

Xstrata has launched a hostile $8.4 billion takeover for WMC, with a decision on the
takeover resting with the Foreign Investment Review Board and Treasurer PETER COSTELLO.

Mr VAILE says he's raised his concerns on national interest grounds with Mr COSTELLO.

AAP RTV sw/sb/sco

KEYWORD: WMC VAILE (CANBERRA)

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