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Sovereign Wealth Funds Briefing - Categorized | Investment, Market

China craves for energy, reaching outside

Posted on 28 October 2009

From Digitaljournal.com: China Investment Corp (CIC), the sovereign-wealth fund, said yesterday that it is to invest $500 million USD in SouthGobi Energy Resources, a Vancouver-based miner whose businesses are mainly located in Mongolia, reported Market Watch.
SouthGobi said the fund will be used for developing its projects in Mongolia. For example, it plans to expand the annual output of the flagship Ovoot Tolgoi coal mine to 8 million tons from the current 1.4 million tons………………………Full Article: Source


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