By Leo Liu:Electricity demand in Mongolia - major driver from world-class mineral depositsThe dramatic and continuing rise in Mongolia's energy demand is being driven by the rapid development of the country's mining based economy. During the period of 2007‐2011, electricity consumption in Mongolia increased on an average of 6% per year. However, the Ministry of Mineral Resource of Mongolia estimates that overall electricity demand is expected to grow at 14% in the future.
HONG KONG (Reuters) - Sovereign wealth fund China Investment Corp (CIC) is in advanced talks to buy an up to $2 billion stake in Alibaba Group , sources told Reuters, as the Chinese e-commerce powerhouse looks to secure the last of the funding it needs to buy back part of its stake from Yahoo Inc . Yahoo and Alibaba struck a deal last week whereby the Chinese company agreed to buy back up to half of the 40 percent stake in itself held by Yahoo for $7.1 billion, valuing Alibaba at $35 billion. Alibaba is raising $4. ...
China's sovereign wealth fund plans to invest almost a billion dollars in a British private equity firm, state press reported Thursday, as it steps up its foray into foreign markets.China Investment Corp (CIC) has finalised the 956-million-dollar deal that could also see it take a 2.3 percent stake in Apax Partners, the China Daily said, citing an unnamed source close to the matter.The private equity fund group has secured approval from the British Financial Services Authority for the deal, the paper said.
Since August 2011, a swathe of Mongolia’s politicians have committed themselves to a series of public squabbles with international mining companies operating in Mongolia. These politically staged disputes are ultimately diminishing a century of work by Mongolia’s politicians to be independent of China. The politicians behind these schemes seem unable [...]
Mongolia was the world’s fastest growing economy last year, driven by foreign investment and rapid developments in its rich coal, copper and gold mining sectors. Now it looks like all of that development could fall apart and the nation’s economy could collapse, all due to an ill thought out law.In late 2009, Rio Tinto (NYSE:RIO) the international mining giant, negotiated a contract with the Mongolian government to develop Oyu Tolgoi, the world’s largest new copper mine.
China and Belgium set up an investment fund to pump more Chinese money into leading European firms Wednesday during a visit by premier-in-waiting Li Keqiang.The fund, with capital of 17 million euros, will "invest along with Chinese companies in European groups," said a statement by China Investment Corporation (CIC), the country's sovereign fund, Belgium's federal investment and participation group (SFPI/FPIM) and A Capital, the a fund manager specialising in investments between China and Europe.
French energy group GDF Suez was on Tuesday set to sign an alliance with Chinese sovereign wealth fund CIC, sources close to the deal said.China Investment Corporation was expected to take a 30 percent stake in the French company's exploration and production arm in an agreement reportedly worth between two and three billion euros ($3-4 billion).The companies were set to sign the deal Tuesday before making an official announcement on Wednesday when GDF Suez publishes its half-year results.