Swapping aluminum for copper will maintain China’s resources, group says
China depends on overseas imports for 60% of its aluminum resources as opposed to 70% of its copper resources.
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.
