Zijin Mining (HKG:2899, SHA:601899) said it will continue investing in Canada despite government measures limiting foreign investment in the mining sector, Bloomberg News reported Tuesday, citing Vice President Shaoyang Shen.
The gold and copper miner said it will focus on junior exploration firms, the report said.
Canada's move to restrict foreign investment in the mining industry is seen as targeted toward China. However, the controls have not deterred junior mining firms from seeking Chinese capital to carry out expensive and risky mining projects, Bloomberg said.
Shares closed 2% higher in Shanghai during Wednesday's trading.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
Price (HKD): $15.10, Change: $+0.36, Percent Change: +2.44%
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.