China Mining United Fund (CMU Fund), the mainland's first private equity fund focusing on resources and mining, says it is preparing for listings in Hong Kong and on the mainland next year.
CMU chairman Zheng Zhi said assets in the potash, precious metals and new energy sectors could be included in the company's H- and A-share listings.
Established in 2009, Beijing-based CMU now has 200 million in US dollars and 700 million in yuan, provided by a group of Chinese coal-mine owners.
Zheng himself is also president of a Jilin-based company whose operations are mainly in real estate and mines exploration.
'We have several plans for the planned IPO,' he said. 'One is to find a listed company with gold production as a key business.'
He said CMU had acquired several gold mines and silver mines in the US and Mongolia, which provided the company with a platform aimed at going public. Last year, CMU bought five gold mines in China, all of which were expected to start producing this year and the next.
In two years, the fund has invested in more than 10 projects. Besides gold, it has potash projects in Brazil and Ethiopia.
