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FACTBOX-China's oil and mineral deals in Africa

Wed Nov 4, 2009 10:01am IST
 
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(For full coverage of the Africa-China summit, click [ID:nAFRICACN])

Nov 4 (Reuters) - China has become a major investor in African energy and mineral resources, which it needs to feed its booming economy.

Here are some of the assets Chinese firms have bought or are trying to purchase and deals reached in Africa in recent years:

August 2009 -- State-owned oil firm China National Offshore Oil Corporation (CNOOC) confirmed it was bidding for Kosmos Energy's stakes in the Jubilee oilfield offshore Ghana, which could be worth between $3 billion to $5 billion.

July 2009 -- CNOOC and Sinopec Group, parent of Sinopec Corp (0386.HK: Quote, Profile, Research), agreed to purchase a stake in an oil block offshore Angola from Marathon Oil for $1.3 billion. [ID:nBNG227876]. Angolan state firm Sonangol later exercised a pre-emption right, blocking the Chinese purchase. [ID:nLO77851]

June 2009 -- Sinopec Group bought Swiss oil explorer Addax Petroleum Corp for $7.2 billion, gaining access to high-potential oil blocks in West Africa and Iraq.

June 2009 -- State-owned Nonferrous Metal Mining Corp (CNMC) pledges to invest $400 million in Zambia's Luanshya Copper Mines after formally taking over running the mines. [ID:nL6314236]

April 2009 -- China granted Niger a $95 million preferential loan for the SOMINA uranium mining operation, a joint venture between China National Uranium Corporation and the Niger government. Their mine is due to come on line in 2010.

January 2009 -- China Union signed a $2.6 billion contract to develop Liberia's Bong iron ore deposits, estimated at 300 million tonnes of low-grade ore. The first iron ore pellets are expected in mid-2010.  Continued...

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