Zijin Mining to take 9.9% stake in Montage Gold
As part of the deal, the Lundin Family Trust also agreed increase its stake in the company from 17.7% to 19.9%.
Guy Saint-Jacques, the Canadian Ambassador to China, says that Canadian mining companies could see an increased share of Chinese natural resource investment.
Chinese investment in Canadian energy production currently outpaces mining investments threefold.
China’s much-publicized stake in the Canadian oil sands will remain strong but Saint-Jacques expects more cash to shift into mining (as China diversifies its Canadian resource portfolio).
Plans for large, Chinese-run copper, lead and zinc mines along the Canadian Arctic shore are already underway and Chinese interest is growing in Saskatchewan potash projects and Ontario’s Ring of Fire mining region.
