September 24, 2009

China SWF Continues Commodity Focus


The China Investment Corp. (CIC), Beijing's Sovereign Wealth Fund now valued near $300 billion (US dollars), surprised commodity markets with a $2.75 billion investment in two commodities firms - PT Bumi Resources, an Indonesian coal miner and Noble Group a commodities conglomerate based in the autonomous Chinese alpha city Hong Kong. This past summer CIC investested $1.5 billion in Canada's largest diversified mining conglomerate Teck Mining. The investment in Bumi is further evidence that China will continue to power its grids with coal burning for the foreseeable future....

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