PRIME MINISTER
FOR MEDIA FRIDAY, 28 JANUARY 1983
BHP UTAH DEAL
The Commonwealth Government welcomes the BHP
initiative in acc uiring from General Electric a major
part of Utah International. The arrangements should
not involve any conflicts with the Government's
foreign investment guidelines. Indeed, as a greater
part of Utah's activities are located in Australia,
the result will be greatly increased Australian
ownership and management of key resources industries.
As a result of acquiring one of the world's most
successful mining companies, BH1P will also have a
significant presence in the Western Hemisphere.
The agreement will give Australia an increased
influence in the international resources field as
well as strengthening and rationalising industry
on-shore.
This is a bold step by BHP. A move such as this
by a major Australian company helps reinforce
Australia's position as an important economy in the
region and, indeed, in the world.
000---
Fraser, Malcolm
Period of Service: 11/11/1975 - 11/03/1983
Find more information on Fraser, Malcolm on the:
Release Date:
28/01/1983
Release Type:
Media Release
Transcript ID:
6001
Document:
00006001.pdf
1 Page(s)
Released by:
- Fraser, John Malcolm
BHP - UTAH DEAL
6001