Free Newsletters - Space - Defense - Environment - Energy - Solar - Nuclear
..
. Energy News .




TRADE WARS
China mining firm falls on Hong Kong trading debut
by Staff Writers
Hong Kong (AFP) Jan 31, 2013


China's Chinalco Mining Corporation fell more than 11 percent on its Hong Kong trading debut Thursday after raising $397 million in the city's first major initial public offering of the year.

Chinalco -- a unit of Aluminum Corporation of China, the mainland's largest aluminium producer by output -- opened at HK$1.55 ($0.20), from an offering price of HK$1.75, and closed at HK$1.64.

The benchmark Hang Seng Index closed 0.39 percent lower.

The group focuses on non-ferrous and non-aluminium mineral resources overseas and is currently concentrating on copper mining.

Analysts said the lacklustre debut was partly prompted by Washington's announcement on Wednesday that the US economy shrank in the fourth quarter of 2013, indicating that the global recovery remains fragile.

"The price of copper is closely related to the global economy, so this reflects that investors are cautious on the price of copper going forward," investment bank Core Pacific-Yamaichi analyst Kenny Cheung told AFP.

Chinalco Mining controls the Toromocho Project in central Peru, one of the largest pre-production copper projects in the world.

The company has secured five so-called cornerstone investors, including Anglo-Australian mining giant Rio Tinto, which had promised to invest a total of $240 million in its shares ahead of its trading debut.

Hong Kong was the world's top IPO market from 2009 to 2011 but money raised from new listings fell last year with uncertainty in the global economic outlook.

.


Related Links
Global Trade News






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle




Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News





TRADE WARS
Pakistan approves port transfer to China
Islamabad (AFP) Jan 30, 2013
Pakistan on Wednesday approved a deal transferring from Singapore to China the management of the strategically located deep-sea Gwadar port on the Arabian Sea. China provided about 75 percent of the initial $250 million in funding for the construction of the port in Pakistan's southwestern province of Baluchistan. It is currently being operated by Singapore's PSA International, but needs ... read more


TRADE WARS
Latest Ways to Make Your Business Energy Efficient

China coal plant shut by health chiefs

Keeping the lights on with renewables

Czech PM slams Albania grid decision

TRADE WARS
Argentina pushes Falklands claim in EU

China's coal consumption continues to soar

Chevron gets permit to explore shale gas in Romania

Iran seeks to salvage gas pipeline deal

TRADE WARS
Japan plans world's largest wind farm

China revs up wind power amid challenges

Algonquin Power Buys 109 MW Shady Oaks Wind Power Facility

British group pans wind farm compensation

TRADE WARS
One in, two out: Simulating more efficient solar cells

Photon Energy Investments Expands to North America

Volkswagen Chattanooga Powers Up Largest Solar Park in Tennessee

Black silicon can take efficiency of solar cells to new levels

TRADE WARS
Blow to Britain's nuclear waste plans

Bulgaria nuclear referendum fails: official

French government backs ex-Areva boss to head EADS: report

Bulgaria nuclear referendum set to fail

TRADE WARS
Marginal Lands Are Prime Fuel Source for Alternative Energy

Wind in the willows boosts biofuel production

Fuel Choices and How They Affect Car Insurance

US Secretary of Agriculture Tom Vilsack visits Renmatix for commissioning of plant to sugar BioFlex Conversion Unit

TRADE WARS
Reshuffle for Tiangong

China to launch 20 spacecrafts in 2013

Mr Xi in Space

China plans manned space launch in 2013: state media

TRADE WARS
Cities Affect Temperatures For Thousands Of Miles

Schwarzenegger calls for 'hip, sexy' environmentalism

Santiago de Chile will get drier and warmer

Global Hawk Supports Studies on Climate Change




The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement