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China on prowl to invest in South African mines (12-03-10)

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China on prowl to invest in South African mines (12-03-10)

NEW YORK (Commodity Online): Like India’s steel giants, China is also showing interest in investing in South Africa’s mining sector.

According to the minister of mines in South Africa, China had shown strong interest in investing in the African nation’s mining sector.

China, Africa’s biggest emerging market partner, has been investing in the continent’s mining and energy sectors.

China is interested in manganese, platinum and uranium. But S Africa is also cautious to see if their investment is going to benefit South Africa. It is critical for the country to ensure its own interest.

The Chinese were keen to invest in processing of minerals in the country, a key priority of South Africa’s government, which hopes to extract as much value from its mines as possible and boost job creation.

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