China leads worldwide mining and metals buys
China was the world's most acquisitive nation in mining and metals in 2012 and is expected to continue to lead merger and acquisition (M&A) activities in the sector in 2013, underscoring its counter-cyclical investment strategy, a report by a leading global consulting firm showed Tuesday.
China saw 147 mining and metals deals completed worldwide in 2012 with a total value of $21.7 billion, accounting for 21 percent of the total global deal volume of $104 billion in the sector, global consultancy Ernst & Young said in its report.
It made China the most acquisitive nation in the sector in terms of value, it said.
The increase in Chinese outbound M&A activity, despite slowing global and domestic economic growth, is indicative of the report said. China will continue to be a leading counter-cyclical buyer around the world to take advantage of increased divestments by larger miners in 2013/ While China's news agency Xinhua reported that gold bars and accessories have sold out at more than one retailer in downtown Beijing, business portalifeng.com reported that an enthusiastic customer spent over 1 million yuan to buy 40 gold bars worth 100 gram at China National Gold Group's Nanjing branch on April 16, the day gold price collapsed.
China Gold International Resources Corporation, a buyout of Mundoro Mining, 100,00 shares of gold major Anglogold Ashanti, 350,000 shares of Goldfields Limited, - MUN/Maintained a minority 5% interest in Mundoro Mining Inc. which is 95% controlled by China ... progress into development, drop the property, or joint venture out to another company. ...as Investors here as a Group we ask for a massive mine Injection in CGG from CNG so pls we ask Investors here to do that also! 150 million oz of GOLD SHOULD BE CGG /CNG GOAL WITH A GOOD PAID DIVIDEND TO SHAREHOLDERS HERE! China Investment Corporation, one of the world's largest sovereign wealth funds, is using exchange-traded funds to take positions in the mining sector, including gold miners AngloGold Ashanti, Gold Fields!A new gold mine with at least 80 tons of proven reserves has been found in a mining base in the mountains of northwest China's Shaanxi Province, the provincial administration of land and resources
CHARTS: Russia seeks investors for 91 million ounces of in-situ gold ...ASAP! PLS!