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September 15, 2006

Chinese mining joint ventures seen in Africa

By Peter Blackburn

RIO DE JANEIRO, Brazil (Reuters) - Chinese investment in African railways, roads and mining helps to lower political risk and creates joint venture opportunities for private mining companies, a mining expert said on Thursday.

China has invested billions of dollars in Africa in recent years as it seeks raw material supplies to feed rapid industrial growth.

"The Chinese are coming in a big way wherever you look in Africa," Hugh Cameron, PricewaterhouseCooper's mining global leader, told a Mining Day organized by the company.

He noted that the Chinese had loaned Angola billions of dollars to repair its railways, damaged by three decades of civil war.

Full Story...

Posted by rjorr at September 15, 2006 4:51 PM