China Minmetals Corporation, a State-owned enterprise, completed its sale of a 2.5 billion yuan ($402.3 million) three-year dim sum bond in Hong Kong Friday, which attracted more than 12 billion yuan in orders and saw strong interest from central banks. http://www.globaltimes.cn/content/770298.shtml#.UU9LTiBzbIU
A record wave of consolidation in China’s mining industry is creating bigger companies that will have the muscle to compete with the likes of BHP Billiton for overseas acquisitions.
Even after Chinese mining mergers reached US$19.6 billion last year, double the tally for 2011, the government wants to see more.
Easier access to capital and less Chinese competition for assets might make companies including China Minmetals Corp and Aluminium Corp of China more robust overseas buyers, said Deloitte & Touche.
http://www.scmp.com/business/china-business/article/1180401/mergers-set-create-mining-giants
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