China Inc's recent moves on Rio Tinto, OZ Minerals, Fortescue Metals and PanAust has led to speculation about which miner will be the next target.
It is no secret that China is looking to increase its self-sufficiency in metals supply, just as the Japanese did in earlier decades. But it has made more aggressive corporate moves than the Japanese, who typically took minority stakes in joint ventures.
Yesterday Citi issued a potential hit list for cashed-up Chinese buyers. It included Equinox Minerals, Alumina Ltd, Paladin Energy, Extract Resources and Riversdale Mining, a diverse group which produces metals such as alumina, copper, coking coal and uranium.
It added that miners listed overseas - including one very big one, US copper giant Freeport McMoran - also represented attractive targets
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