China Minmetals Chairman Sees More Purchases of Overseas Assets
Sunday,06/03/2016|08:22GMTby
Bloomberg News
Chinese companies will continue buying overseas mining assets as the industry goes through structural changes and China looks to...
Chinese companies will continue buying overseas mining assets as the industry goes through structural changes and China looks to lower its dependence on resources controlled by foreign companies, He Wenbo, chairman of China Minmetals Corp., said on Sunday.
Responding to a question about the possibility of purchasing more assets from Glencore, He said Minmetals keeps in touch with all leading global mining companies. "We discuss everything we are interested in," he said, without providing further detail. He spoke to Bloomberg on the sidelines of National People’s Congress meetings in Beijing.
Glencore Chief Executive Officer Ivan Glasenberg announced in September a debt cutting program that includes asset sales, among other steps. Minmetals purchased the Las Bambas project in Peru from Glencore in 2014 for $5.85 billion.
On the industry outlook for metals prices, He said: "Base metals prices fell rapidly last year and all big miners are suffering. Base metal prices will eventually stabilize unless we find revolutionary substitutes of base metals in next decades. Right now many metals prices are around their marginal costs. Such a situation won’t last for long."
He said Minmetals’ Acquisition of engineering and mining firm China Metallurgical Group will help boost the company’s competitiveness, by reinforcing each side’s strengths.
"Minmetals has been turning into a mining company from a trading house, and we have an experienced management with global knowledge, while MCC is pretty good at designing and construction. We will be a good fit and will focus on overseas projects in line with China’s "One Belt One Road" plan to revive development in countries along the former Silk Road.
Peter Grauer, the chairman of Bloomberg LP, is a senior independent non-executive director at Glencore.
To contact Bloomberg News staff for this story: Alfred Cang in Shanghai at acang@bloomberg.net. To contact the editors responsible for this story: John Liu at jliu42@bloomberg.net, Ken Wills
Chinese companies will continue buying overseas mining assets as the industry goes through structural changes and China looks to lower its dependence on resources controlled by foreign companies, He Wenbo, chairman of China Minmetals Corp., said on Sunday.
Responding to a question about the possibility of purchasing more assets from Glencore, He said Minmetals keeps in touch with all leading global mining companies. "We discuss everything we are interested in," he said, without providing further detail. He spoke to Bloomberg on the sidelines of National People’s Congress meetings in Beijing.
Glencore Chief Executive Officer Ivan Glasenberg announced in September a debt cutting program that includes asset sales, among other steps. Minmetals purchased the Las Bambas project in Peru from Glencore in 2014 for $5.85 billion.
On the industry outlook for metals prices, He said: "Base metals prices fell rapidly last year and all big miners are suffering. Base metal prices will eventually stabilize unless we find revolutionary substitutes of base metals in next decades. Right now many metals prices are around their marginal costs. Such a situation won’t last for long."
He said Minmetals’ Acquisition of engineering and mining firm China Metallurgical Group will help boost the company’s competitiveness, by reinforcing each side’s strengths.
"Minmetals has been turning into a mining company from a trading house, and we have an experienced management with global knowledge, while MCC is pretty good at designing and construction. We will be a good fit and will focus on overseas projects in line with China’s "One Belt One Road" plan to revive development in countries along the former Silk Road.
Peter Grauer, the chairman of Bloomberg LP, is a senior independent non-executive director at Glencore.
To contact Bloomberg News staff for this story: Alfred Cang in Shanghai at acang@bloomberg.net. To contact the editors responsible for this story: John Liu at jliu42@bloomberg.net, Ken Wills
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In this exclusive Executive Interview, Finance Magnates speaks with Artur Delijergijevs, Head of Systematic Market Making at CMC Markets, about the current state of metals demand and market volatility.
Delijergijevs offers a desk-level view on:
- Metals Demand: Why metals are seeing the strongest demand from both retail and institutional clients right now.
- The Safe-Haven Debate: Questioning whether gold still fits the classic safe-haven definition given large daily price movements.
- Volatile Market Prep: How a market-making desk prepares its systems and pricing for stressed market conditions and high-impact economic events.
- Hybrid Execution: Why the best execution model combines electronic speed with human relationship support, especially during volatility.
- AI in Workflow: Where CMC Markets is integrating machine learning for risk management and pricing, and the limitations of AI during stressed markets.
- Dubai's Role: The strategic importance of Dubai’s location for covering global trading sessions across Asia, Europe, and the US.
Watch to understand how CMC Markets maintains stable pricing and reliable execution quality in high-volatility environments.
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From fintech innovators to leading brokers, this is where the finance industry celebrates its biggest achievements.
Winners will be announced at the Cyprus Gala Dinner on November 6, 2026.
Nominate your brand now.
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Lights on. Cameras ready. 🎬
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Lights on. Cameras ready. 🎬
Finance Magnates Awards 2026 nominations are now open. 🏆
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➡️ The MENA region is rapidly shaping global financial markets.
➡️ New traders expect stability, precise execution, and transparency.
➡️ Local expertise is key to regulatory compliance and user experience.
➡️ Future success belongs to firms capable of meeting rising standards across regulation and platform consistency.
Read the full article at: https://www.financemagnates.com/thought-leadership/exness-sees-trust-as-the-key-theme-for-growth-in-mena-trading-growth-for-2026/
#Exness #MENA #Trading #FinTech #Dubai #OnlineTrading #FinanceMagnates #MohammadAmer #Trust #MobileTrading
Mohammad Amer, Regional Commercial Director at Exness, sits down to discuss the booming MENA financial trading market. Find out why Dubai is key to the company's growth strategy, how a mobile-first generation is changing expectations, and why trust will be the defining theme for traders in 2026.
In this interview, you'll learn:
* Why Dubai and the MENA region are critical growth markets for fintech and online trading.
* How Exness is addressing the demands of mobile-first, younger traders through engineering, platform stability, and transparent conditions.
* The essential role local talent plays in providing a culturally relevant and compliant user experience.
* Mohammad Amer's outlook on the future of the online trading industry and why stronger controls and systems are necessary.
* Why "trust" isn't just a brand value, but has commercial value—and why he predicts 2026 will be the "Year of Trust."
Key Takeaways:
➡️ The MENA region is rapidly shaping global financial markets.
➡️ New traders expect stability, precise execution, and transparency.
➡️ Local expertise is key to regulatory compliance and user experience.
➡️ Future success belongs to firms capable of meeting rising standards across regulation and platform consistency.
Read the full article at: https://www.financemagnates.com/thought-leadership/exness-sees-trust-as-the-key-theme-for-growth-in-mena-trading-growth-for-2026/
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