Chinese/Singaporean Investors Buy Lake Glesna

Details

Published: Friday, 12 August 2016 21:01

The developer of Mauravillo Estate in Wundowie, JB Investments, has sold Lake Glesna a 491 hectare site to Chinese / Singaporean investors.
Lake Glesna has an amazing spring-fed freshwater lake and is located between Mauravillo residential estate and Glesna Park owned by major landholder and farmer Peter Cook.

Glesna Park is a 5000 acre property that forms part of the Felicitas bauxite resource where tenements are owned by the recently formed Yankuang Bauxite Resources (YBR) which is 100 per cent owned by the Chinese Government.

This sale coupled with the previous sale to foreign investors of Mark Hay’s Chedaring Farm on Golf Links Road Wundowie, creates even more questions and uncertainty in the area.

What lies ahead for neighboring communities and property owners in close proximity to the Felicitas and Fortuna bauxite resources?

There have been rumors of beef cattle and feedlots thrown into the speculation of land usage and it is interesting to note that when Bauxite Alumina Joint Ventures (BAJV) was operating in Bindoon, its slogan was “Beef and Bauxite”.

Bruce Groenewald, YBR’s exploration manager, has stated the bauxite projects will go ahead when economic conditions improve in China, probably within the next couple of years.

Mr Groenewald in response to a prospective resident’s inquiry about mining also stated that:

The changeover of tenements from one business to another is taking some time to process.

When the money starts coming back in they will try to buy up parcels of land to secure the area.

Exploration will continue.

They will complete their environmental studies.

There will be vast amounts of financial outlay to begin with, including the construction of the conveyer belt that will run under Toodyay Road (road needs to be lifted or tunneled under) and over Morangup Road.

The disused rail siding near Cobbler Pool on the Avon River would need to be rebuilt to accommodate load-out facilities for trains.
The mine, according to Mr Groenewald will operate for a minimum of 25 years but for now he was in a ‘curating’ mode.

Unlike BAJV who had a shopfront in Toodyay, there has been no update from Yankuang since the takeover in January this year and as far as Mr Groenewald is concerned, it seems to be business as usual.

If readers of our Face Book page hear of local land sales close to the proposed mining areas to overseas investors, please contact
AHMAG via Facebook or ring Brian on 0418 898 788.

With your support we can remain vigilant and stand together against the threat to mine HERE, because the Chinese Government owned entity YBR will be back.

WA will go to the polls in March 2017, so we need put preasure on our candidates to protect our communities, our farm land, our water ways & supplies, our flora and fauna, as well as the precious environment here in the Darling Range.

AHMAG

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