http://www.empireiron.com/
The Chinese are coming to Manitoba and they're making globalization look easy.
Sometime this month, the Bucko Lake nickel mine near Wabowden will likely restart production, thanks to new Chinese management and investment in the mine's owner, Crowflight Minerals of Vancouver.
The $6.3-billion hostile takeover bid of Equinox Minerals by the Chinese mining company Minmetals, announced this week, is the most recent and dramatic example of the wave of Chinese investments in the Canadian industrial and resources sectors.
But Manitoba is not being left out.
The Bucko Lake mine originally opened in the fall of 2008, just as commodity prices were collapsing. The mine has been beset with production and financing challenges since then.
That is, until the arrival of the Chinese.
King Place Enterprises Ltd., a private company affiliated with Chinese steel producer Hebei Wenfeng Iron and Steel Co. Ltd., has injected close to $50 million in Crowflight over the last 10 months.
It now controls 37.6 per cent of Crowflight, dominates the board of directors, hired its own CEO and is spending about $10 million on its own operating equipment.
And King Place had to beat out another Chinese suitor for Crowflight, an indication of the Chinese's intense appetite for base metals needed to fuel that country's industrial growth.
Mining industry officials in Manitoba have nothing but good things to say about the new prospects for the company. A Crowflight official said its CEO, Kevin Zhu, spends 80 per cent of his time at the mine site.
Ed Huebert, executive director of the Mining Association of Manitoba, said it's a good sign management is thoroughly engaged in the operation.
The Chinese investment in Crowflight may ultimately serve Chinese interests, but it is undoubtedly a welcome development for the northern Manitoba economy.
Another Manitoba company whose future was very much in doubt has also benefited from some strategic Chinese investment.
http://stahlbroker.de/2011/04/chinesische-bergbau-moglichkeiten/
Gut das ich noch vor ein paar Wochen aufgestockt habe :-)))))))))))))))
----------- Nur meine Meinung, keine Kauf-/ Verkaufsempfehlung ! “Es hört doch nur jeder, was er versteht.” |