Source: Reuters – How China took control of an OPEC country’s oil
Notable excerpts:
China’s aggressive quest for foreign oil has reached a new milestone, according to records reviewed by Reuters: near monopoly control of crude exports from an OPEC nation, Ecuador.
Source: Bullionstar – China’s insatiable gold appetite
The latest data from the Hong Kong Census and Statistics Department showed that China’s gold imports through Hong Kong for August clocked in at 110 tons. Although it was a slight dip from July’s 113 tonnes, it was also the fifth month this year that China imported over a 100 tonnes of gold in a month. This brings China’s total gold imports through Hong Kong alone in the first eight months of 2013 to a staggering 723 tonnes.
Source: BBC News – Can China lead Greece out of darkness?
At Greece’s southern port of Piraeus, the Chinese have arrived.
Rail-mounted cranes use a complex system of ropes and pulleys to offload containers from cargo ships onto lorries.
The equipment was built by China’s state-run shipping company, Cosco, which paid 500m euros (£426m) to upgrade and run the terminal. It is Greece’s largest inward investment and gives China a key access point to Europe.
Source: Bloomberg – China Gold-Mine Deals at Record After Price Plunge: Commodities
Notable excerpts:
Acquisitions by China’s gold mining companies reached a record this year as the metal’s steepest quarterly drop in more than nine decades slashes mine values and sidelines Western rivals laden with debt.
Source: BBC News – China and Nigeria sign $1.1bn deal
Notable excerpts:
China has agreed to give Nigeria a $1.1bn (£700m) low-interest loan to build much-needed infrastructure.
The deal was struck during Nigerian President Goodluck Jonathan’s meeting with Chinese President Xi Jinping in Beijing on Wednesday.
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