China Launches First Mining Investment Fund
[2009-05-26]
China has established its first RMB mining investment fund to raise RMB 10 billion for the industry, the Shanghai Securities News reported on Monday.
The fund, called China Mining United Fund, will focus its investment on acquisitions of quality domestic and overseas mineral resources as well as listed mining firms with great potential. It will also cooperate with its partners in business talks, investment prior to listings, credit guarantees and short-term loans.
The first phase of fund-raising has came to an end, and the fund has collected RMB 500 million.
The fund will help 300 mining companies both at home and abroad establish cooperation relationships, get financing for listing and become world-class mining giants, said Zheng Zhi, chairman of the fund.
The fund, called China Mining United Fund, will focus its investment on acquisitions of quality domestic and overseas mineral resources as well as listed mining firms with great potential. It will also cooperate with its partners in business talks, investment prior to listings, credit guarantees and short-term loans.
The first phase of fund-raising has came to an end, and the fund has collected RMB 500 million.
The fund will help 300 mining companies both at home and abroad establish cooperation relationships, get financing for listing and become world-class mining giants, said Zheng Zhi, chairman of the fund.
Source: China Knowledge
Keywords:mining investment
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