Baosteel can buy Aquila stake

Like we keep saying, China needs resources, and Australia needs revenue. So despite any political strains, Baosteel Group Corp. will be allowed to buy up to a 19.9% stake in Aquila Resources Ltd. for A$285 million ($258 million), says Australia's Foreign Investment Review Board. The Chinese steel-producing giant will put vice president Dai Zhihao on the board of Aquila, an iron ore and coal...