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China takes over
China's government has announced the takeover of the biggest mining company in Canada. Chinese firm, Minmetals, which is owned by the Chinese government, is said to be paying about $US5.7 billion, for Noranda Mining... [In] Alberta province, it has also been reported that the Chinese oil company Sinopec, which is controlled by the Chinese government, is in talks to acquire a large lease of oil bearing land... The two investments are the largest international deals by Chinese companies to date... The Chinese have enormous foreign currency reserves - more than $US466 billion and growing by about $US10.8 billion every month.Posted by: trailing wife 2004-09-29 |
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