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Sovereign Wealth Funds Briefing - Categorized | Investment

Fortescue Metals to seek China financing

Posted on 11 May 2009

From WSJ: Hunan Valin Iron & Steel Group executives said China’s sovereign-wealth fund may help finance expansion at Fortescue Metals Group Ltd. through debt rather than stock purchases, as the Chinese steel group became the Australian iron-ore miner’s second-biggest shareholder.

The comments — along with Canberra’s approval Friday of a tie-up between Anshan Iron & Steel Group Corp. and Gindalbie Metals Ltd. — underscore the trend of Australian miners turning to deep-pocketed Chinese investors who are keen to secure overseas resources…….Full Article: Source


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