Port of Darwin review finds no cause to cancel Chinese-owned Landbridge lease
23 October 23
The Australian government will not vary or cancel the lease of Port of Darwin to Chinese-owned Landbridge after a national security review.
The Department of the Prime Minister and Cabinet announced a review into the circumstances of the lease of Port of Darwin had been finalised on 20 October.
Landbridge was originally awarded a 99-year lease in 2025 for the port in a deal worth $506 million dollars and the government committed to reviewing the circumstances of the lease following the 2022 election.
The review found that a robust regulatory system is in place to manage risks to critical infrastructure, existing and ongoing monitoring mechanisms are sufficient, and it is not necessary to vary or cancel the lease.
It also considered previous findings and outcomes as well as risk management and mitigation arrangements to protect national security interests.
Prime Minister Anthony Albanese has also announced plans to travel to Beijing in the People’s Republic of China for the first time from 4 to 7 November, at the invitation of President Xi Jinping and Premier Li Qiang, and will attend the China International Import Expo.
He also announced an agreement with China to move forward to resolve trade disputes and a Chinese review of its trade duties over the next five months.
Australia and China have agreed they will suspend the dispute on wine in the WTO pending the outcome of this review. If the duties are not removed at the end of the review, Australia will resume the dispute in the WTO.
Source: Defence Connect