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FACTBOX-Chinese investments in commodities, energy sectors

Fri Jul 3, 2009 7:50pm IST
 
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July 3 (Reuters) - Canada's Teck Resources (TCKb.TO: Quote, Profile, Research) (TCK.N: Quote, Profile, Research) said on Friday it will sell a 17.2 percent equity stake to state-owned China Investment Corp through a private placement that will raise C$1.74 billion ($1.5 billion) and help the miner pay down debt. [ID:nN03153079]

Earlier this month, China's Commerce Ministry said that China would steadily push its "go abroad" investment policy, unperturbed by the collapse of a $19.5 billion tie-up between Rio Tinto (RIO.AX: Quote, Profile, Research) and Chinese metals conglomerate Chinalco. [ID:nPEK281502] [ID:nSYD73514]

The following are some major Chinese investments in the commodities and energy sectors this year:

* June 24, 2009 - Sinopec, China's largest oil refiner, agreed to buy Swiss oil explorer Addax Petroleum Corp (AXC.TO: Quote, Profile, Research) for $7.24 billion, a deal that will give it access to high-potential oil blocks in West Africa and Iraq.

* June 23, 2009 - Chinese power company GCL-Poly Energy Holdings (3800.HK: Quote, Profile, Research) said it would pay $3.38 billion for a Jiangsu province solar parts maker in a move to tap the country's growing solar energy industry.

* June 9, 2009 - Canadian mining and exploration company Consolidated Thompson (CLM.TO: Quote, Profile, Research) said it had finalized terms of an agreement with China's Wuhan Iron and Steel Corp for a $240 million investment.

* May 24, 2009 - Asia's largest oil and gas producer PetroChina (0857.HK: Quote, Profile, Research) agreed to buy Keppel Corp's (KPLM.SI: Quote, Profile, Research) 45.5 percent stake in Singapore Petroleum Company for S$1.47 billion ($1.02 billion).

* April 30, 2009 - Chinese state-owned China Nonferrous Metal Mining Group agreed to take a majority stake in Australian rare earths miner Lynas Corp Ltd (LYC.AX: Quote, Profile, Research) for A$252 million ($185.7 million).

* April 1, 2009 - Australian zinc miner OZ Minerals (OZL.AX: Quote, Profile, Research) agreed to sell most of its assets to China's Minmetals for $1.21 billion.  Continued...

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