Graham
Well-Known Member
Well for many years the Chinese have mined Central Africa for all it was worth.
And in return, China built them some fantastic roads.
Perhaps it may not have been apparent to the Africans at the time, that the Chinese would have had to build roads any way to move the iron ore, etc.
China, the world's largest consumer of steel, is the destination for half of the world's iron ore exports.
Well, keeping with the theme of mining, it looks like China has bought a 45% stake of some mine in South Africa.
Platinum Mine
1/ Chinese investments still continue to be made, however. It was announced in February that a Chinese consortium, headed by the Chinese mining group Jinchuan, is taking a 45 percent stake in South Africa's Wesizwe Platinum. It is the first Chinese investment in the platinum sector and about $650 million of the capital is being provided by China Development Bank.
2/ China's Hanlong Group is also set to complete a $1.45 billion takeover of Sundance Resources, the Australian company that owns important West African iron ore supplies, including the Mbalam mine straddling Cameroon and the Republic of Congo.
3/ David Humphreys, principal at DaiEcon Advisors, a London-based consultancy specializing in the mining industry and one of the keynote speakers at Indaba, says the mining industry, particularly in Africa, has become obsessed with China.
4/ "People don't understand the mathematical mechanics of compound interest. China's growth might have slowed slightly but the base is huge.
Last year China added another Australia to its GDP,
by 2018 this will be another Germany
and by 2021, another Japan and that will be every year.
The volume demand for resources will not decline," he says.
Gra.
And in return, China built them some fantastic roads.
Perhaps it may not have been apparent to the Africans at the time, that the Chinese would have had to build roads any way to move the iron ore, etc.
China, the world's largest consumer of steel, is the destination for half of the world's iron ore exports.
Well, keeping with the theme of mining, it looks like China has bought a 45% stake of some mine in South Africa.
Platinum Mine
1/ Chinese investments still continue to be made, however. It was announced in February that a Chinese consortium, headed by the Chinese mining group Jinchuan, is taking a 45 percent stake in South Africa's Wesizwe Platinum. It is the first Chinese investment in the platinum sector and about $650 million of the capital is being provided by China Development Bank.
2/ China's Hanlong Group is also set to complete a $1.45 billion takeover of Sundance Resources, the Australian company that owns important West African iron ore supplies, including the Mbalam mine straddling Cameroon and the Republic of Congo.
3/ David Humphreys, principal at DaiEcon Advisors, a London-based consultancy specializing in the mining industry and one of the keynote speakers at Indaba, says the mining industry, particularly in Africa, has become obsessed with China.
4/ "People don't understand the mathematical mechanics of compound interest. China's growth might have slowed slightly but the base is huge.
Last year China added another Australia to its GDP,
by 2018 this will be another Germany
and by 2021, another Japan and that will be every year.
The volume demand for resources will not decline," he says.
Gra.
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