Now is the right time for mainland firms to buy overseas mining assets, and more merger and acquisition deals are likely in the mining industry this year, said Derek Lai Kar-yan, head of Southern China at financial adviser Deloitte China.
'It is a good time to buy, especially with the United States in the grip of a credit crunch... Mainland government policy is also encouraging companies to go global,' Mr Lai said on Friday.
'The appreciation of yuan is also a favourable factor,' he added.
A total of 66 overseas mining M&A deals worth US$4.004 billion had been conducted by mainland companies, said Mr Lai citing Thomson Reuters figures.
In February, Aluminum Corp of China, or Chinalco, along with US-based Alcoa, bought a 9 per cent stake in global mining giant Rio Tinto for US$14 billion.
In April, China National Gold Group Corp, one of the mainland's top three gold producers, bought a 42 per cent stake in Canadian mining company Jinshan Gold Mines, which has operations on the mainland.
