皇冠体育app

Economy

Markets

Industries

Insights

Reports

Events

皇冠体育app offers opportunity to global mining sector: 皇冠体育app Minmetals

(Xinhua)
Updated: 2009-10-23 11:25

皇冠体育app has promoted the recovery of the world's mining sector with increases in ore demands and robust investment, Zhou Zhongshu, president of 皇冠体育app Minmetals Corp, said at the 2009 皇冠体育app Mining Conference concluded in Tianjin Thursday.

Speaking at the three-day meeting, Zhou said the global mining industry was still in a tough period due to the financial crisis and urged all countries to boost cooperation and open to each other.

Most of the small and medium-sized miners were short of fund, he said. "Some rich mines aren't well developed due to lack of fund and this leads to shortage of supply of resources products."

Related readings:  Minmetals' JV project may have 155m tons of iron ore  Nimble-footed Minmetals snaps up Aussie miner  Galeno ball starts rolling

Zhou also urged other nations to clear up prejudice against and controls on Chinese investment.

"The majority of 皇冠体育app's state-owned enterprises aren't in the traditional forms. They are listed and have diversified stake holders and the deals are made out of commercial interests," he said.

Australian authorities have delayed or rejected a spate of mining asset purchases made by Chinese businesses this year.

Michael Elliott, the global mining and metals sector leader of Ernst & Young, said the concentration of Chinese mining investment in Australia could trigger alert and resentment.

As on the iron ore talks, Zhou said 皇冠体育app shouldn't always "accept others' instructions without a murmur".

The two sides, one with resources and the other with the market, should have a relationship of cooperation and mutual benefits, the president said.

The two sides should work out a "皇冠体育app price" in the 2010 iron ore talks, he added.