The offensive from the Chinese sovereign fund natural resources extends and increases in intensity. After a first test succeeded in the Canada, which has led, in early July by the taking of a participation of more than 17 in Teck Resources first diversified mining group in the country, China Investment Corp. (CIC) committed top speed in this month of September. In three days, he announced the repurchase of approximately 15 of the Asian Group of contents first Noble Group and trading financing for Indonesian coal PT Bumi Resources giant.
Investment opportunities
Of $ 300 billion war chests, CIC will buy the debt securities in the amount of $ 1.9 billion. The deadlines of the three tranches of bonds issued by PT Bumi Resources ranged between four and six years. Credit the coal group is the first brick of a partnership intended to "pursue investment opportunities as a whole", said Ari Hudaya, the pattern of the Indonesian company. Through this, the Chinese will be able to expand their presence in mineral resources abroad. Mineral resources they absolutely need to fuel the country's industrial growth. PT Bumi Resources found essential to its expansion capital. The firm, which will deliver in 2009, 60 million tonnes of coal, will bring its annual production to 111 million tonnes by 2012. Its alliance with CIC he opens the door of the huge Chinese market of coal. In three years, PT Bumi Resources has to export 20 million tonnes, while in 2008 the Chinese were not included among its clients.
If the Chinese and their capital are well received in many countries of the far East, their investments are always so many concerns in Australia, main trading partner of China's mineral resources. Once again, Nonferrous Metal Mining (CMBC), a State mining colossus, has seen its pigeons road in its May 1 attempt to lay hands on Lynas Corporation, a small Australian company specializing in the rare metals. Australian State body to review foreign direct investment directed CMBC to acquire a less than 50 participation in Lynas and reduce its representatives to the Board of Directors of the target in identical proportions. Suddenly, the Chinese could only withdraw their friendly offer of $ 210 million us on 51.6 of the shares of Lynas. Without delay, the CIC considering the possibility of launching a national company specialized in rare metals. Another resounding failure suffered yesterday by Beijing, the Australian Department of defence has developed its veto the joint venture in magnetite between the firm local Western Plains Resources and Wugang Australia Resources, a subsidiary of the Chinese steelmaker Wuhan Iron and Steel. Reason advanced by Canberra: the deposit in question is a military area.
Another major setback
This new setback is only the latest in a series launched by the unilateral withdrawal of Rio Tintode project of alliance strategic with Chinalco, abandoned during the creation of a joint venture with BHP Billiton iron ore. Since then, Beijing threw his vest on small prey found easier to achieve. Sentence lost, because the Australian Government, supported by a suspicious public opinion against the Chinese, is very jealous of the natural resources of the country.
But Florentino Perez was not high its stars7 in IledeFrance in early in the year to 6International banks hold debt of Rusal 7Immediately all Japanese is in amourachentIt already gives the color to what will be its mandateTechnically Internet has also multiplied the opportunitiesThe program of festivities provides many momentsIt is not enough effort to prevent this threat said Daniel GoureBut in times of crisis it is more than everAs early as the third there is a net drop
