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Message: A number of months ago

A number of months ago

posted on Nov 28, 2008 04:57AM

some asian investors were at SGR. If I recall correctly the article was in the Free Press. They had expressed an interest of investing in SGR. Any connection with following article?

Investment >> Investment News

Zijin Mining plans RMB 1 bln investment home and abroad
(China Knowledge)
Updated: 2008-11-28 13:51
Counter:329



Zijin Mining Group Co, China's second largest gold producer, announced on Friday its board has approved the proposal to invest about RMB 1 billion in the listed overseas and domestic mining companies, market sources reported.


The company did not provide any specific investment targets in its filing with the Shanghai Stock Exchange.


Earlier this month, its president, Chen Jinghe, said that the company would acquire more overseas mining assets as mining firms are hit by the global financial crisis, and the year 2009 would be the best time for overseas acquisitions, because it may be the lowest point of the market, market sources reported earlier.


Zijin Mining made its first overseas acquisition in 2005 and currently has investment in eight countries. However, most acquisitions are small-scale and lower-cost ones.


In 2007, the company successively bought stakes in Rio Blanco, an oversize copper and molybdenum mine in Peru and Tajikistan's ZGC.


On Thursday, A-shares and H-shares of Zijin Mining rose 1.44% and 3.86% to close at RMB 4.23 and HK$2.69, respectively.



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