MMG

China's miners to step up overseas push

China's iron ore imports are expected to increase 6.3 per cent to 850 million tonnes this year, about half of which will come from Australia. Photo: Bloomberg

Chinese mining companies will be on the prowl this year to acquire more firms or forge joint ventures in regions ranging from Africa to Latin America to Southeast Asia as they try to feed the country's voracious appetite for the iron ore and precious and industrial metals vital for an economy that has slowed but is still expanding at a healthy clip.

Saturday, 5 April, 2014, 1:54am

MMG sets 10pc floor for return on acquisitions

Hong Kong-listed MMG, led by chief Andrew Michelmore, is interested in mining projects that are already well advanced. Photo: Bloomberg

MMG, the overseas non-ferrous metals mining unit of state-owned China Minmetals, will consider as acquisition targets only assets and projects with at least a 10 per cent return, even though it enjoys low financing costs thanks to its parent firm's connections.

18 Mar 2014 - 5:16am