Deals Down Under

AUSTRALIA, the world's largest exporter of iron ore and coal, won't discriminate against Chinese companies that are boosting investment in the country's energy and mining resources, Prime Minister Kevin Rudd said yesterday.

Australia will continue to be a "long-term, reliable source" of raw materials to China, Rudd said in Beijing, where he was attending the Olympic Games. Sinosteel Corp, China's second-largest iron-ore trader, is awaiting Australian approval for a plan to raise its stake in Murchison Metals Ltd after winning control of Midwest Corp.