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People's Daily Online>>Opinion

Mining M&A to be focus for 2012: Experts

By Du Juan (China Daily)

13:25, November 25, 2011

BEIJING - Chinese mining companies will continue to increase both purchases and investment in the overseas resources market in 2012, even though costs and challenges in the industry are rising, said experts.

"China has continued to gain strong influence in the global mining sector against a background of increasing activity in the acquisition of overseas resources," said Jeremy South, global mining leader at Deloitte Touche Tohmatsu Ltd (DTT) on Thursday.

South said that Chinese mining companies were "a bit quiet" in terms of overseas mergers and acquisitions (M&A) in the first half of this year because of the soaring price of high-level resources. However, he added that now is a good time for M&A activity because of a slight rebound in the price of resources after huge declines in recent months.

He predicted that Australia and Canada will continue to be the main target markets for overseas investment, but said that Chinese mining companies will continue to invest in and explore more mines in other countries such as those on the African continent.

He added that possible resource and carbon taxes, proposed by the Australian government and likely to come into effect in July next year, will undoubtedly impose pressure on Chinese mining companies.

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