• 6 minutes Corporations Are Buying More Renewables Than Ever
  • 17 minutes WTI @ 67.50, charts show $62.50 next
  • 23 minutes Starvation, horror in Venezuela
  • 21 hours Permian already crested the productivity bell curve - downward now to Tier 2 geological locations
  • 1 day Desperate Call or... Erdogan Says Turkey Will Boycott U.S. Electronics
  • 19 hours Renewable Energy Could "Effectively Be Free" by 2030
  • 20 hours Saudi Fund Wants to Take Tesla Private?
  • 1 day Mike Shellman's musings on "Cartoon of the Week"
  • 2 days Venezuela set to raise gasoline prices to international levels.
  • 2 days The Discount Airline Model Is Coming for Europe’s Railways
  • 1 day Pakistan: "Heart" Of Terrorism and Global Threat
  • 1 day Are Trump's steel tariffs working? Seems they are!
  • 2 days Scottish Battery ‘Breakthrough’ Could Charge Electric Cars In Seconds
  • 2 hours Hey Oil Bulls - How Long Till Increasing Oil Prices and Strengthening Dollar Start Killing Demand in Developing Countries?
  • 13 hours Why hydrogen economics does not work
  • 12 hours China goes against US natural gas
Alt Text

This Key Gold Producer Sees Its Production Slump

Africa’s second gold producer Ghana…

Alt Text

Expect Mine Closures In This Key Gold Mining Nation

Major gold mining nation South…

Alt Text

Did These Mining Giants Just Confirm The Next Gold Frontier?

After Ecuador’s President removed a…

Dave Forest

Dave Forest

Dave is Managing Geologist of the Pierce Points Daily E-Letter.

More Info

Trending Discussions

These Miners Are Seeking Over $1.3 Billion in Acquisitions

There's been a lot of press lately about a possible slowdown in the economy of China. And speculation over the effects that such a happening might have on the commodities sector.

But two separate news items last week suggest Chinese mining companies are still cash-rich. And on the hunt for acquisitions.

In the gold space, for example. Where China's largest gold miner, Zijin Mining, said it is looking to buy up to $1.3 billion worth of assets this year alone.

Zijin officials told Bloomberg that the firm is primarily targeting gold projects in Africa. Noting that they are looking for projects with more than 100 tonnes (3.2 million ounces) of gold reserves. Or copper projects with more than one million tonnes (2.2 billion pounds) of reserves.

Interestingly, the latter metal is a new focus for Zijin. With the company noting that over "the next few years", it will "undergo a transitory period towards copper mining." Opening up a totally new range of potential acquisition projects for the firm.

And Zijin isn't the only Chinese player eying projects in the copper space. Last week, China Molybdenum--the country's largest molybdenum producer--said it is also looking to buy more copper projects.

China Molybdenum's chairman Li Chaochun was quoted by the South China Morning Post as saying, "We are bullish on copper over the long run. It is one of our investment priorities."

The company noted that it is actively looking for acquisitions in developed countries, and "regions with stable political conditions". This following on the heels of the firm recently buying the Northparkes copper mine in Australia from Rio Tinto, for $820 million.

Chaochun also added that the major miner is "studying other metals."

Both announcements suggest that demand for quality mining projects from China is going to remain high. Both in established jurisdictions--and frontier economies such as in Africa.

We'll see what targets emerge for these big buyers.

Here's to building a portfolio,

Dave Forest




Back to homepage

Trending Discussions


Leave a comment
  • Kevin Joseph on December 06 2014 said:
    Iron Ore,mining in Nigeria,is Virgin territory and prime for production to sell into domestic market,particularly for sponge iron production steel facilities.

    Nigeria,imports 17mt per annum of steel products,it immune from other parts of the steel world,as needs and can sell all produced products,like roofing,nails,buckets,rebar etc.locally.

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News