China should not be allowed to become a direct investor in the mining and agriculture business.

The concern was given after the Australian Bureau of Statistics (ABS) reported a second quarter current account deficit of $5.64 billion, the lowest in more than eight years. The figures was far down from a revised deficit of $16.457 billion in the first quarter.

London-based Canonbury Group president Philippa Malmgren said China's massively growing population will absolutely increase its demand for natural resources. In effect, the global consultant with Deutsche Bank also said, it would find ways of supplying the demand.

According to the former economic adviser to George W. Bush, “'What we see in China is huge focus on controlling the supply that it needs.”

China's Minmetals Corporation acquired most of the worldwide assets of OZ Minerals Limited (ASX: OZL). In 2009, the Australian company completed the sale of certain assets, which include Century Mine, Sepon Copper Mine, Sepon Gold Mine, Golden Grove Mine and Rosebery Mine to Minmetals.

China's metal and minerals trading company continues to express interest in acquiring other Australian mining projects.

Malmgren pointed out, If China “could own your mines, they will do it and cut you out of the price action... Australia gains by saying, 'No, you can't own the mine' - that lets you keep a margin.”