Proactive investorsLogo Proactive Investors UK Website

Search field
Additional information
Additional Information
Market: .
Sector: General Mining
Epic: Mineweb
News: Latest news
Web Site: Mineweb
Other Articles: 08-03-201005-03-201003-03-2010

RSS - Subscribe to the News Today on Proactive UK ▼

Tuesday March 16, 12:29Mercator Gold to sell exclusive Copper Flat option to Canada's THEMAC Resources

The deal will allow the group to retain a substantial interest in the promising Mexican copper-gold-molybdenum-silver project without the associated costs.

FULL ARTICLE ►

RSS - Subscribe to the News Today on Proactive AU ▼

Monday March 15, 11:56Bionomics to present at Ultimate Healthcare & Biotechnology Event, March 24

Deborah Rathjen, CEO of Bionomics, recommended by UK Investment Reseach house Edison Investment Research, "our new valuation for BNO is at 55 cents" will present in Sydney.

FULL ARTICLE ►

RSS - Subscribe to the News Today on Proactive CN ▼

Monday March 15, 09:01China's growth boosting commodity prices

The latest economic figures from China have put pressure on the dollar and boosted a number of high-yielding currencies, including the Australian dollar and the South African rand.

FULL ARTICLE ►
Mineweb

Mineweb

Mineweb is a web-based international mining publication focusing on mining financial and corporate news and comment.
CLICK HERE FOR FULL ANLAYSIS OF MINEWEB
Tuesday, February 09, 2010

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

company news image

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.

AddThis Feed Button
Register here to be notified of future Mineweb articles.

Other Mineweb articles


Other Mineweb news

More news ►

Investors interested in Mineweb recently viewed


No investment advice

The Company is a publisher and is not registered with or authorised by the Financial Services Authority (FSA). You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.