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Prime Minister Anthony Albanese has insisted he wants the Port of Darwin returned to Australian ownership, as an American private equity firm makes a play to buy the strategically significant asset from its Chinese owners.

Both Labor and the Coalition announced during the election campaign that they would move to strip Chinese firm Landbridge of its controversial 99-year lease of the port, which sits directly opposite Darwin’s Larrakeyah Defence Precinct.

The prospect of a forced divestiture has angered Beijing, which feels Chinese companies are being unfairly singled out for punishment over national security concerns.

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Defence Industry Minister Pat Conroy struck a similar tone to Albanese’s when asked whether the government would support US ownership of the port.

“We’ve been very clear that we want to see the port back in Australian hands,” he said.

“We’re going through the process now of looking through all the options, but our commitment is, at the end of the process, the Port of Darwin will be in Australian hands.”

The Australian Financial Review reported that Australian freight company Toll had partnered with [U.S. investor] Cerberus on the bid in a move that could help ease concerns about foreign ownership of the port, even by a trusted ally such as the US.

The Australian Strategic Policy Institute has detailed extensive connections between Landbridge [the Chinese company that runs the port on a lease contract], the Chinese Communist Party and the People’s Liberation Army, raising concerns about the national security implications of the leasing agreement from both Coalition and Labor MPs.

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