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Foreign miners eye Chinese market

0 Comment(s)Print E-mail CNTV, November 9, 2011
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As the world's largest consumer of non-ferrous metals, like aluminum, copper and zinc, China is the most important destination for foreign mining giants. So it's no surprise that they've come out in droves to the expo in Tianjin, looking for more opportunities with Chinese firms.

Resource-rich Australia is a major minerals trade partner to China. As such, the Australian government brought a thirty-member delegation to the expo to explore more opportunities in the Chinese market.

James Johnson, deputy CEO & Chief from Energy Division of Geoscience Australia, said: "(Our) aim and purpose of bringing team Australia here is ... to attract inward investment in Australia from China companies."

Canadian mining company, EXETER Resource, has a large copper and gold project in Chile, with 26.7 million ounces of gold reserves. The projects are under feasibility studies and aim to begin mining in December. The company is in China to look for a partnership.

Marina Trasolini from Exeter Resouce Corporation said: "We have a very large project in Chile ... and the Chinese demand for metals, moving forward."

Though a deal has not been reached yet, EXETER says they have already talked to a few potential Chinese partners. The company also plans to sell part of its gold ore from its Chile project in the Chinese market.

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