China reaches out

Some highlights of recent mining acquisitions by Chinese companies include:

• China Non Ferrous Metals Group buys rights to the Chambishi mine (Cu) in Zambia in 1998

• Zijin consortium buys 90% of Monterrico Metals (Cu) for US$182M in 2007

• China Minmetals and Jiangxi Copper buys out Northern Peru Copper (Cu) for $500M in late 2007

• Chinalco’s acquires (with Alcoa) 12% of Rio Tinto PLC (Fe) for US$14B in February • Jinchuan buys Tyler Resources (Cu-Zn-Mo) for $214M in March

• China National Gold acquires 42% of Jinshan Gold Mines (Au) for $217M in May

• China Railway Engineering Corp. and Sinohydro Corp. form Sicomines joint venture with Congolese state miner Gecamines in January (Cu-Co) for up to US$9 billion in infrastructure and mine investment; the JV is 68% held by the Chinese consortium and 32% by Gecamines