Australian regulators have delayed approval for Chinese investments in Fortescue Metals Group and Gindalbie Metals in the wake of increased debate over China’s growing influence in the country’s mining sector, the Wall Street Journal reported. The delays come after the Foreign Investment Review Board (FIRB) decided to extend its review of Aluminum Corp of China’s US$19.5 billion investment in Australian minig giant Rio Tinto. Fortescue said Thursday that the FIRB has extended by 30 days the review period into Hunan Valin Iron & Steel’s intended purchase of a 16.5% stake for US$814.6 million. At the same time, Anshan Iron & Steel Group has been requested to resubmit its application to invest US$112 million in Gindalbie, according to a person familiar with the situation.
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