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Chinese private investors eye overseas mining


09:24, November 07, 2012

TIANJIN, Nov. 6 (Xinhua) -- Chinese private firms will be at the forefront of the country's overseas mining investment despite current economic woes, according to officials and experts.

Mining investment, especially made by private investors, will remain high in the next 10 to 20 years supported by high-level domestic mineral consumption, according to Gan Fei, a researcher from the Ministry of Land and Resources (MLR).

He made his comments at an international mining forum that ran from Saturday to Tuesday in the port city of Tianjin.

Global mining investment has been undermined by the lackluster eurozone and U.S. markets since the 2008 financial crisis. But Chinese mineral demand has remained robust fueled by the economy's high growth, though at a slower pace.

One fourth of global mineral demand this year is estimated to come from China, according to Cao Yuanzheng, chief economist with the Bank of China.

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