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Vol 4 (AAC) No 12

Published 1st October 2011

Insider trading

Australian financial authorities are investigating the trading activities of resource company executives in two lucrative takeover deals

The latest attempt by a Chinese company to secure African mining assets from Australian companies has hit the skids over concerns about insider trading by Hanlong Mining. Several suspicious deals were made by the spouses of Australia-based executives of the Chinese company which is in takeover talks with Sundance Resources and Bannerman Resources. The case, the first-ever insider trading investigation linked to a major Chinese investment company, echoes the 2009 arrest and gaoling of four Rio Tinto executives in Shanghai for theft of commercial secrets and bribery.

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