CMOC swoop shows China still hungry for resources

Part state-owned China Molybdenum’s purchase of niobium and phosphate businesses from Anglo American for $1.5 billion could herald fresh Chinese mining M&A boom.

CMOC swoop shows China still hungry for resources

The world’s biggest commodity companies are still hurting. And China’s miners are watching them hungrily, looking to pick up major assets.

China Molybdenum Co, also known as CMOC, has been one of the first to pounce. On Thursday it announced that it had acquired Anglo American's Brazil-based niobium and phosphates mining businesses for $1.5 billion.

For Hong Kong and Shanghai-listed CMOC it is an opportunistic purchase. Anglo American has embarked on...

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