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.
Mining billionaire and Ivanhoe founder Robert Friedland is rubbing his hands with glee at the prospect of a greener economy in Asia, especially in China.
Mongolia’s vast copper-gold project remains stuck in a rut despite rumours that Rio Tinto is closing in on a takeover of the main project company, Turquoise Hill.
With an eye on reducing the number of failed resources deals, Asian buyers are likely to focus on smaller targets which have a greater need for capital.