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Sovereign Wealth Funds Briefing - Categorized | Investment, Market

Cash rich China eyes Canada’s rich resources

Posted on 13 July 2009

From Reuters: China’s purchase of a C$1.74 billion ($1.5 billion) stake in Teck Resources may be just the opening move from the world’s top resource consumer in a strategy to use its unique wealth advantage to become a key source of mining capital for Canadian firms.

Teck said last week it sold a 17.2 percent equity stake to state-owned China Investment Corp in a deal that allows the Canadian miner to pay down its massive debt while expanding China’s portfolio of commodity investments………Full Article: Source


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