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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: Taikun who wrote (54853)	10/25/2004 8:52:24 PM
From: Condor	Read Replies (1) \| Respond to of 74559

NP says first Noranda, then China takes Inmet and Teck 2004-10-25 05:52 ET - In the News See In the News (C-NRD) Noranda Inc The National Post reports in its Saturday, Oct. 23, edition that the move by state-run China Minmetals to buy Noranda is stoking fears of an all-out takeover of Canada's resource sector and a call for investment restrictions to be imposed on China. The Post's Jason Kirby writes that China's superheated growth has caught the world off guard and put acute demands on the country's resources. As a result, China is forced to look abroad to oil and mineral rich countries like Canada to feed its needs. "This is just the beginning," says David Hale, a noted China consultant and fund adviser in Chicago. "They're desperate for raw materials and they're prepared to pay a high price to get those materials. China will be looking for more resources in Canada." Nowhere has China's resource hunger been more immediately felt than in Canada, thanks to Minmetals' controversial $6-billion bid for Noranda and by extension its 59-per-cent stake in Falconbridge. And there are plenty of companies for the Chinese to choose from. Among names some unidentified analysts pass around as possibly attractive to the Chinese are Inmet and Teck Cominco.