Chinese private investors eye overseas mining (3)

Data from All-China Federation of Industry & Commerce showed that the average business revenues of China's top 500 private mining firms surged to 14.05 billion yuan in 2011, from 3.27 billion yuan (518 million U.S. dollars) in 2007.

Meanwhile, as the capital-intensive sector saw less cash flow due to a plunge in investment from crisis-hit developed economies, global demand for Chinese money has increased.

"We welcome Chinese enterprises to invest in Australia. They can either join in mining exploration or buy our equipment and technologies," said the Australian ambassador to China, Frances Adamson. China currently ranks as the country's third largest direct foreign investor.

In the first half of 2012, Chinese enterprises invested 1.42 billion U.S. dollars in 64 overseas projects on solid minerals, according to Chen Xianda, vice president of China Mining Association.

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