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China Molybdenum is still looking for distressed assets after picking up Freeport McMoran’s interest in a DRC copper-cobalt mine earlier this year, the Australian reported. As quoted in the publication: And it has; it’s just that an aversion to debt while the commodities cycle finds its bottom means the likes of BHP Billiton, Rio Tinto …
China Molybdenum is still looking for distressed assets after picking up Freeport McMoran’s interest in a DRC copper-cobalt mine earlier this year, the Australian reported.
As quoted in the publication:
And it has; it’s just that an aversion to debt while the commodities cycle finds its bottom means the likes of BHP Billiton, Rio Tinto and South32 have been sidestepping the opportunity to pick up quality assets from distressed sellers.
No such reluctance on the part of China, with its embrace of 20, 30 and 50-year planning on securing the supply of commodities unchanged by the current resources downturn. There has been no better example of that than the $US9 billion ($12bn) Shanghai and Hong Kong-listed China Molybdenum (CMOC).