Tue, July 07, 2009
Business > Industries > Iraq oil auction

Chinese investments in commodities, energy sectors

2009-07-07 05:41:19 GMT2009-07-07 13:41:19 (Beijing Time)  SINA.com

July 3 - Canada's Teck Resources said on Friday it will sell a 17.2 percent equity stake to state-owned China Investment Corp through a private placement that will raise C$1.74 billion and help the miner pay down debt.

Earlier this month, China's Commerce Ministry said that China would steadily push its "go abroad" investment policy, unperturbed by the collapse of a $19.5 billion tie-up between Rio Tinto and Chinese metals conglomerate Chinalco.

The following are some major Chinese investments in the commodities and energy sectors this year:

* June 24, 2009 - Sinopec, China's largest oil refiner, agreed to buy Swiss oil explorer Addax Petroleum Corp for $7.24 billion, a deal that will give it access to high-potential oil blocks in West Africa and Iraq.

* June 23, 2009 - Chinese power company GCL-Poly Energy Holdings said it would pay $3.38 billion for a Jiangsu province solar parts maker in a move to tap the country's growing solar energy industry.

* June 9, 2009 - Canadian mining and exploration company Consolidated Thompson said it had finalized terms of an agreement with China's Wuhan Iron and Steel Corp for a $240 million investment.

* May 24, 2009 - Asia's largest oil and gas producer PetroChina agreed to buy Keppel Corp's 45.5 percent stake in Singapore Petroleum Company for S$1.47 billion .

* April 30, 2009 - Chinese state-owned China Nonferrous Metal Mining Group agreed to take a majority stake in Australian rare earths miner Lynas Corp Ltd for A$252 million .

* April 1, 2009 - Australian zinc miner OZ Minerals agreed to sell most of its assets to China's Minmetals for $1.21 billion.

* Feb 24, 2009 - Chinese steel mill Hunan Valin Iron and Steel said it will pay A$1.2 billion for a 16.5 percent stake in Fortescue Metals Group.

* Feb. 5, 2009 - Shenzhen Zhongjin Lingnan Nonfemet, China's third-largest zinc producer, wins Australian government approval to acquire a controlling stake in zinc miner Perilya.


Add Your Comments:

Your Name:
Your Country:
(English Only)
Please read our Terms of Service. Messages that harass, abuse or threaten others; have obscene or otherwise objectionable content; have spam, commercial or advertising content or links may be removed.