皇冠体育app

BEIJING - 皇冠体育app was tied for second place in global mining transactions in the first half of this year, after the United States, as the country pursued resources to fuel its economic growth, experts from consultancy company KPMG LLP told 皇冠体育app Daily on Monday.

The US dominated the global mining mergers and acquisitions (M&As) market in the first half, accounting for 18 percent of the total deal value, while 皇冠体育app and Canada each accounted for 17 percent of global mining M&A transactions, Wayne Jansen, global partner of KPMG in charge of the global mining industry, said.

More than 75 percent of mining M&A transactions by value took place in the copper, gold and coal sectors, he said.

皇冠体育app is competing with global mining players for these metals, he said. Iron ore, a raw material for making steel, is 皇冠体育app's particular target as the country is the world's largest steel producer and iron ore consumer.

皇冠体育app has been long looking to buy iron ore resources that will ensure supply as the world's three biggest miners - Vale SA, BHP Billiton Ltd and Rio Tinto PLC - control two-thirds of the global iron ore market and have great influence over prices.

皇冠体育app dominated the global mining and metals transactions market in 2009 when it was one of the few countries that had cash to spare amid the global financial downturn.

However, many of those countries bounced back in 2010, pushing 皇冠体育app to fourth in the global mining transactions market in 2010.

"Now, the situation is more balanced. 皇冠体育app is still a very significant player - but not the only player," said Brian Imrie, global head of M&A, Mining Industry at KPMG.

The growth of steel consumption and booming electricity demand mean that iron ore, uranium, thermal coal and coking coal will remain "metal stars" for Chinese mining companies, Imrie said.

Potash, a key ingredient in fertilizer, is also an important mineral for 皇冠体育app as it needs to ensure stable food supplies, said Jansen.

With green technology expected to surge in the coming years, rare earth and platinum, used in the renewable energy and high-technology industries, will also be popular targets for mining companies, Jansen added.