Perth-based Sundance Resources (SDL.ASX) is seeking to develop a US$4.7 billion iron ore mine, port and railroad project in West Africa with Chinese help, Bloomberg reported. The project is a mine called Mbalam that straddles the border of Cameroon and the Republic of Congo. It is expected to produce 35 million metric tons of iron […]
Category: Investment
Sovereign-wealth fund China Investment Corp’s (CIC) board of supervisors chairman Jin Liqun said that CIC is making progress toward getting additional funds, the Wall Street Journal reported. Speaking during a three-day summit of sovereign-wealth funds, Jin spoke optimistically about finding a new funding mechanism despite widespread criticism over the poor performance of CIC’s investments, in […]
Chinese dating site Jiayuan.com (DATE.NASDAQ), frequently referred to as “China’s Match.com,” opened flat after it listed on the NASDAQ exchange yesterday, Dow Jones reported. The company’s shares opened at US$11 per share, on par with its initial public offering (IPO) price and sold nearly 7.1 million shares within a narrow range of that price. Beijing-based […]
JA Solar (JASO.NASDAQ) posted profits that beat analyst estimates while competitor Trina Solar (TSL.NYSE) cut its quarterly sales forecast, Reuters reported. The divergent performance shows the uncertain ground the Chinese solar industry finds itself on as European countries cut back on subsidies for solar power. Last week Italy pared back its subsidy regime which had […]
Chinese internet giant Tencent (0700.HK) has purchased a 4.6% share of mainland film and TV producer Huayi Brothers Media (300027.SZ), AFP reported, citing a joint statement by the two firms to the Shenzhen stock exchange. Tencent bought 27.8 million shares of Huayi for around US$69.2 million. Tencent operates a variety of online services, including the […]