Mr Akio Mimura chairman of Nippon Steel said that governments need to work with mining companies to ensure a balanced and fair market. He has told an international economic conference in Perth that ensuring both buyer and seller benefit from mining operations is paramount.
Highlighting the importance of competition in an industry dominated by BHP Billiton and Rio Tinto, he said a number of different players must be able to access the market. Mr Mimura told the conference there needs to be a co operative approach between Australia and Japan in managing the mining industries. He added that "It is vital to ensure that restraint is exercised by resource companies and that the monitoring and the regulatory responsibilities are taken on by the governments of the relevant countries."
