http://www.mineweb.com/mineweb/view/mineweb/en/page38?oid=91228&sn=Detail

China Investment Corporation lends South Gobi $300m The mining group says it is hoping to list in Hong Kong in Q1 -sources Author: Joseph Chaney and Michael Flaherty (Reuters ) Posted: Friday , 23 Oct 2009 BEIJING/HONG KONG (Reuters - Mining group SouthGobi Energy Resources (SGQ.V) has secured a $300 million loan from China's sovereign wealth fund, sources said on Friday, as China pushes ahead with investing in Canada's natural resources sector. While SouthGobi, 80 percent owned by Ivanhoe Mines (IVN.TO), is listed in Canada, the company is focused on exploring and developing metallurgical and thermal coal deposits in Mongolia and Indonesia. The loan from China Investment Corp. [CIC.UL] will allow the company to fund infrastructure, more mines and coal processing projects, sources said. The deal between China Investment Corp. (CIC) and SouthGobi could be announced as early as next week, according to the people who were familiar with the plans. Reuters reported in June that SouthGobi plans to raise roughly $250 million through a Hong Kong initial public offering. The company hopes to complete the IPO by the first quarter of next year, one source said on Friday. Macquarie Group is advising SouthGobi on the CIC loan, according to the source, adding that CIC would gain some equity in the company as part of the agreement. Spokespeople for all three companies were not immediately available for comment. The sources had direct knowledge of the deal but were not authorised to speak publicly about it.