Chinese Investment In Canadian Mining Sector Might Increase, Says Envoy

Following Prime Minister Stephen Harper’s approval of $15-billion takeover of the Canada-based global oil and gas company Nexen by China National Offshore Oil Corp last year, Canada’s Ambassador to China Monday said that China was likely to increase investment in Canadian mining sector.

Canadian Ambassador to China Guy Saint-Jacques said that Chinese investments in Canadian resources would increase as China might invest in Canadian forestry as well as energy development.

“I expect that the interest will increase on the mining side,” Canadian Press quoted the ambassador as saying.

“What I expect also is maybe they will start to get interested in the forestry sector. There’s already investment in pulp manufacturing. I think they are starting to look at potential minority participation in a number of companies.”

Following the China-Nexen deal, Petro China signaled its interest in buying a share of the proposed Northern Gateway, which would ship oil-sands bitumen to waiting tankers on Canada’s West Coast, according to CTV News…

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