17.07.2013 - The lure of cheap mining assets
Amid a slump in iron-ore prices, farsighted investors are eyeing cheap mining assets from Australia to Canada. The slide in the price of iron ore and other commodities has hammered mining companies’ share prices, forcing many to shed assets and opening the door to other investors, including big institutions and private-equity firms with no mining experience but with time to wait for prices to rise. Canada’s two largest pension funds—CPP Investment Board and Caisse de depot et placement du Quebec—are each seeking possible partners for separate bids for Rio Tinto PLC's stake in Iron Ore Co. of Canada, valued at about $4 billion, people familiar with the matter said last week...............................................Full Article: Source
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