Nov 12 (Reuters) – A Hong Kong-based unit of China’s Jinchuan Group is hunting globally for quality copper and nickel assets, leveraging its access to capital at a time when Western rivals are finding it hard to secure finance, its chief executive said.
“People are running out of money. Whether it’s their balance sheets or they just can’t fund their operations, or their projects,” Peter Albert, CEO of Jinchuan Group International Resources, told Reuters on Thursday.
“Companies like ours, who do have access to capital, it’s an opportunity for us.”
Jinchuan International (JCI) is a unit of state-owned Jinchuan Resources, China’s biggest nickel producer and a major copper producer. China has urged its huge SOES to expand overseas for growth to combat struggling activity at home.
“Because it’s China Inc, financing is available. And it is available on competitive, if I might say, attractive terms for the right projects,” Albert, who was appointed CEO in July, said on the sidelines of a mining conference.
“It puts us in a very competitive position.”
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