Deals Underscore Chinese Interest in Canada’s Mineral Riches – by Marilyn Scales
Marilyn Scales is a field editor for the Canadian Mining Journal, Canada’s first mining publication. She is one of Canada’s most senior mining commentators.
Not so long ago, say 10 years, the Chinese were thought of as a poor, insular nation, mysterious and of a peculiar political stripe. Now we must lay aside those notions and recognize that China is an economic powerhouse. Whatever remains of “communism” in that country is proving to have very capitalistic talents. Hence, the many foreign investments made in the last two years while the rest of the world suffered economic meltdown.
Here are a few of the investments made by Chinese investors outside that country in the past two years:
-Aluminum Corp. of China (Chinalco) attempted to invest US$19.5 billion in Rio Tinto
-China Minmetals made a A$2.6 billion bid for Australian miner Oz MineralsChina Mining United Fund bought into Canadian juniors including
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