News

China strengthens presence in Kazakhstan

Date: Aug 22, 2009

This deal follows the recent completion of the extension of an oil pipeline which gives China unrivalled access to Kazakhstan’s oil resources. The 3,000-km pipeline, which runs to the Caspian Sea’s oil fields, has a 10 million ton-a-year capacity, which both countries have already agreed to double. The moves, analysts say, have great geo-political significance. Both Russia and the United States have competing interests in securing access to the region’s energy resources. India’s interests have in the past also clashed with China’s in securing oil fields in Kazakhstan, most notably in 2005 when the Oil and Natural Gas Corporation (ONGC) and the Mittal group lost out on a bid to acquire one of Kazakhstan’s biggest oil companies to the China National Petroleum Corporation (CNPC).

China, Iran Sign Agreement on Refining Expansion, Mehr Report

Date: Aug 03, 2009

Iran signed an agreement with China on a project costing between $2 billion and $3 billion to expand the capacity of Abadan and Persian Gulf Star oil refineries, Tehran-based Mehr News Agency reported, without citing anyone.

Everbright to raise up to $1.6bn in IPO

Dat: Aug 03, 2009

Chinese investors have rediscovered their enthusiasm for equities after the market collapsed last year and analysts say Everbright’s offering is likely to be priced at the top of the range and will soar on its trading debut. Since Beijing allowed new share sales to resume in June, the five companies that have gone public jumped by an average of 112 per cent on their first trading day and all have sold their shares at the top of the range offered to investors. Last week China State Construction Engineering, which raised $7.3bn in the world’s largest IPO this year, rose 56 per cent on its Shanghai debut. China’s benchmark stock index has climbed 90 per cent so far this year after falling 65 per cent in 2008.

Mongolia seeks investors for exporting Tavan Tolgoi coal

Date: Aug 02, 2009

It is reported that Mongolian Government is holding a series of detailed and complex talks with officials of several foreign companies interested in investing in Tavan Tolgoi coal project. The Mongolian decision will be announced only after various commercial aspects of their respective proposals are weighed, and geopolitical considerations are reviewed. Every bid will have some plus points and also some which may not appear very attractive. Their intrinsic merit has to be judged, as also their comparative appeal. This is no easy task, and the final decision will not please everybody, inside or outside Mongolia. The prime consideration in that choice would centre on the building of a new railway. Without proper and adequate railway connectivity, the coal in Tavan Tolgoi is just coal in the earth, not a valuable mining asset.

Mongolia’s Bayar Seeks $25 Billion of Investments in Mining

Date: July 17, 2009

Mongolia is seeking $25 billion of overseas investments in mining in the next five years to develop some of the world’s largest untapped gold and copper resources. “We want to embark on one large-scale mining project every year, and an investment of $5 billion is required” annually, Prime Minister Sanjaa Bayar said in an interview in Tokyo yesterday. “We want countries like Japan to take part because they have technologies to develop gold and copper mines without damaging the natural environment.” Companies have struggled to start projects in Mongolia. Vancouver-based Ivanhoe Mines Ltd. has tried for more than five years for approval to develop a copper and gold mine.

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China Eurasia Investment Forum 2009

Grand Millennium Hotel Beijing, China. China and Eurasia: Emergence of New Silk Road Investment and networking opportunities for investors, financiers, resources companies and service providers Inaugural China Eurasia Investment Forum aims to bring together the government officials, investors, financiers, resource companies, service... Read more

China and Eurasia Region