I read with great surprise this morning that the new National government has blocked the sale of the Taharoa iron sands to CKI (who now own the Wellington electricity network too).
Matt was equally surprised, he sent me an email with the subject as “WTF” and the body simply containing the link:)
What the hell is going on? It’s already owned by Australians and pretty much all of the iron ore it produces is exported. I’m not sure that selling sand falls within the bounds of something that we consider strategic? Maybe that’s just me though
As you probably worked out from my previous rants I disagreed with the decision to block AIAL (here and here) and found it inconsistent with the decision to allow the sale of vector’s electricity network (here). I can’t really work out a consistent pattern for when asset sales will be blocked so I can only imagine what foreign investors are thinking…
If we won’t let people buy our sand from the Aussies what will we let them buy?