What a coincidence, China Foreign Ministry press re instructing state-owned enterprises to purchase overseas lithium shares, and CMOC (Chinese state owns 41%) setup of a natural investment fund last Friday.
1. Chinese government instructs state-owned enterprises to purchase overseas lithium shares in large quantities? The Chinese side responded
2017-11-17 19:35 Overseas network
On November 17, Foreign Ministry Spokesman Geng Shuang held a regular press conference on the 17th and responded to hot issues in the near future. Relevant content is as follows:
Q: According to financial analysts, the Chinese government recently instructed state-owned enterprises to purchase large shares of lithium mining enterprises overseas, such as Australia and Argentina, in order to guarantee the supply of lithium batteries, which are of crucial importance to the production of electric vehicles in China. Please confirm and comment on this.
A: China pursues an open strategy of mutual benefit and win-win cooperation and is committed to deepening cooperation with all other countries in various fields such as economy and trade, energy and infrastructure construction. You mentioned China's cooperation with some countries in the field of minerals is not strange. As for the large purchase you mentioned or any other special trend, I do not have it. You can ask the departments or enterprises directly.
https://3g.163.com/news/article/D3FHEU5F00018AOR.html
2.
BRIEF-China Molybdenum's unit plans investment fund worth $1 bln with New China Capital Legend
NOVEMBER 17, 2017 / 8:24 PM / UPDATED 10 HOURS AGO
Reuters Staff
Nov 17 (Reuters) - China Molybdenum Co Ltd
* Says unit plans to set up natural resources investment fund worth $1.0 billion with New China Capital Legend Ltd
CMOC’s advantages, are, having plenty of cash and is NOT subject to the money transfer limit policy in China!
CMOC announcement on 17 November 2017:
The establishment of the Fund will allow the Company to carry out businesses including
investments, mergers & acquisitions and integrations in its strategic development direction and to improve and enhance its industry influence.
Capital Commitment
The total size of the Fund shall be US$1 billion, which is expected to be raised through two installments of US$500 million each. CMOC Limited agreed to subscribe up to 45% of the total size of the Fund (i.e., US$450 million) and be liable to the extent of its capital contribution, and NCCL will make a US$100,000 capital contribution. The remaining capital shall be primarily raised by NCCL on the market.
Investment Targets
The Fund
intends to closely embrace the national mining strategy and the Belt and Road Initiative and actively participate in investments and mergers & acquisitions in the natural resources fields and the upstream and downstream of the industry chains. Initial public offering and mergers & acquisitions will be major exit routes for the investment projects of the Fund.
https://hotcopper.com.au/posts/28938605/single
