BHP plans Melbourne region steel works on French Island
The Broken Hill Proprietary Co Ltd aims to build a steel production plant on French Island in Western Port Bay south east of Melbourne. A spokesman said funds came from Victoria's government and private investors. The project would shift steel output to domestic markets, easing mainland capacity and expanding regional industry.
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Australia Joins Britain Loan Push At IMF Action
The IMF announced seventeen countries including Australia have joined to finance a 151.40 million dollar credit to Britain. The move mirrors a 1968 operation and involves lending in local currencies and gold, with Britain to repay in similar terms. Also noted are mining company dealings and share movements related to Australian interests.
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