Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
Reuters reports China Development Bank’s investment division, backed by more than $1 trillion in lending capacity, have helped Chinese firms snap up copper, uranium, iron ore and coking coal assets around the world, “but have yet to make a big splash in nickel”:
He [China Development Bank International executive director Lei Mu] added that China Development Bank International is interested in buying iron ore and coking coal assets and is also targeting nickel.
“Everyone’s talking about iron ore, and we are kind of keen on iron ore as well. Coking coal’s definitely one of the things we’re looking at.”
“Because we are the largest shareholder in one of Asia’s largest nickel companies, we have been very actively seeking similar assets for this company for our future investment,” he said.
