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Market: .
Sector: General Mining
Epic: Mineweb
News: Latest news
Web Site: Mineweb
Other Articles: 06-08-201026-07-201021-07-2010

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Thursday September 02, 11:00Baobab Resources identifies distinct ore domain at Tete’s South Zone

Baobab MD Ben James said the latest drilling results from the Tete project's South Zone characterise a distinct, higher mass recovery, ore domain.

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Thursday September 02, 08:15Indonesia edges closer toward uranium mining and nuclear power

After nearly five decades of national debate on the issue, Indonesia's central government may finally be ready to develop a national nuclear policy, which may lead to domestic uranium mining.

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Wednesday September 01, 01:25Green Dragon Gas reports significant growth as China’s thirst for energy continues

China's thirst for energy resources has continued with an increased focus on domestic supplies of gas, Green Dragon Gas chairman Randeep Grewal said today. In the company's interim results, [...]

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Mineweb

Mineweb

Mineweb is a web-based international mining publication focusing on mining financial and corporate news and comment.
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Tuesday, February 09, 2010

China Investment Corp invests in Kinross, Gold Fields, Potash Corp, Freeport and others

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By Dorothy Kosich, Mineweb.com

China Investment Corporation (CIC), 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 and Kinross.

The fund also holds US$145 million or 155,600 shares of gold-backed ETF SPDR Gold Trust shares.

CIC also invested in miners Freeport-McMoRan Copper & Gold, Potash Corp of Saskatchewan, Teck Resources, and Vale.

The China Investment Corp's largest overall investment was in Teck Resources of which CIC bought 101,304,474 shares at $1.5 billion, which are now valued at US$3.54 billion.

CIC also discovered a holding of 50,000 shares of PotashCorp worth $5.4 million, as well as 58,991 share of Freeport valued at $4.7 million. The fund's gold mining equities holdings include 350,000 shares of Gold Fields at $4.59 million, 250,000 shares of Kinross valued at $4.6 million, and 100,000 shares of AngloGold valued at $4 million.

Finally, the sovereign fund holdings also include a $498 million investment or 18,896,562 shares of Brazilian über iron ore miner Vale.

The SEC filing detailed equity holdings in U.S. listed companies and funds worth $9.63 billion at the end of 2009.

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