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drbubb

Chinese Miners have arrived... on the world Stage

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Let's start with those listed in Hongkong...

 

Aluminum Co. of China / "Chalco"/ hk:

 

Hunan Nonferrous Metals / hk:

 

Jiangxi Copper Co. / hk:

 

...and the gold miners...

 

Lingbao Gold Company Ltd. / hk:3330

 

Zijin Mining Group / hk:2899

 

= =

 

In general, Hong Kong allows miners to be listed, but not exploration companies.

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Tycoon buys stake in Anglo American

 

Hong Kong, China ... 11 November 2006 10:11

 

One of China's wealthiest tycoons has bought an $800-million stake in Anglo American, a landmark deal in China's pursuit of African resources, the Financial Times said on Saturday.

 

Citic Pacific chairperson Larry Yung, China's third richest man, also known as Rong Zhijian, bought 17-million shares from the Oppenheimer dynasty, Anglo-American's founding family, the newspaper said.

 

The surprise purchase of the stake reflected China's thirst for resources in Africa to fuel its economic expansion, the paper said.

 

Last week Beijing hosted a summit for 48 African leaders focusing mainly on trade and resources.

 

The newspaper said Yung's acquisition came two weeks after London and Johannesburg-listed Anglo appointed a new chief executive, American Cynthia Carroll.

 

The appointment led to fresh speculation that Anglo, the world's third biggest mining group by market capitalisation, could be the target of a takeover. - AFP

 

 

@: http://www.mg.co.za/articlePage.aspx?artic...news__business/

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Gold & Precious Minerals: China May Put Size limit on Foreign Junior Golds

Impact: Potentially Negative

 

Channel NewsAsia filed a report today saying that China is considering new policies on foreign investment in the gold mining industry, allowing only the largest overseas companies to work in the country. No details on size were mentioned, but it was said that China would announce the policy change before year-end. The article said that there were more than 100 foreign companies investing in the gold sector in China, most of them considered to be small.

 

The recently published Canadian and American Mines Handbook identified more than :

 

50 North American listed companies working in the mining industry in China.

 

Companies investing in China in the gold industry within our coverage universe include Eldorado Gold (ELD-TSX) and Sino Gold (SGX-ASX). Another Canadian junior working in China and largely held within our retail network is Southwestern Resources (SWG-TSX).

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