China in auto power play
It might not shake up the industry just yet, but China's interest in Volvo and Saab is the start of something big in global autos, writes columnist Wei Gu. Commentary
FACTBOX: Chinese investments in commodities, energy sectors
(Reuters) - Canada's Teck Resources (TCKb.TO) (TCK.N) said on Friday it will sell a 17.2 percent equity stake to state-owned China Investment Corp through a private placement that will raise C$1.74 billion ($1.5 billion) and help the miner pay down debt.
Earlier this month, China's Commerce Ministry said that China would steadily push its "go abroad" investment policy, unperturbed by the collapse of a $19.5 billion tie-up between Rio Tinto (RIO.AX) and Chinese metals conglomerate Chinalco.
The following are some major Chinese investments in the commodities and energy sectors this year:
* June 24, 2009 - Sinopec, China's largest oil refiner, agreed to buy Swiss oil explorer Addax Petroleum Corp AXC.TO for $7.24 billion, a deal that will give it access to high-potential oil blocks in West Africa and Iraq.
* June 23, 2009 - Chinese power company GCL-Poly Energy Holdings (3800.HK) said it would pay $3.38 billion for a Jiangsu province solar parts maker in a move to tap the country's growing solar energy industry.
* June 9, 2009 - Canadian mining and exploration company Consolidated Thompson (CLM.TO) said it had finalized terms of an agreement with China's Wuhan Iron and Steel Corp for a $240 million investment.
* May 24, 2009 - Asia's largest oil and gas producer PetroChina (0857.HK) agreed to buy Keppel Corp's (KPLM.SI) 45.5 percent stake in Singapore Petroleum Company for S$1.47 billion ($1.02 billion).
* April 30, 2009 - Chinese state-owned China Nonferrous Metal Mining Group agreed to take a majority stake in Australian rare earths miner Lynas Corp Ltd (LYC.AX) for A$252 million ($185.7 million).
* April 1, 2009 - Australian zinc miner OZ Minerals (OZL.AX) agreed to sell most of its assets to China's Minmetals for $1.21 billion.
* Feb 24, 2009 - Chinese steel mill Hunan Valin Iron and Steel said it will pay A$1.2 billion ($770 million) for a 16.5 percent stake in Fortescue Metals Group (FMG.AX).
* February 5, 2009 - Shenzhen Zhongjin Lingnan Nonfemet (000060.SZ), China's third-largest zinc producer, wins Australian government approval to acquire a controlling stake in zinc miner Perilya (PEM.AX).
(Reporting by Euan Rocha in Toronto; editing by Peter Galloway)
