Monday, June 14, 2010

China Sells Dollars-7

"China is set to make its second largest investment in Africa outside the energy sector by ploughing $877m into South Africa's platinum industry. ... For the first time, Beijing will take a direct stake in the continent's platinum reserves, the majority of which are in South Africa. ... 'This is a very significant strategic play because it gives China its first direct access to platinum,' said Martyn Davies, chief executive of Frontier Advisory, a Johannesburg company that worked with [platinum miner] Wesizwe", Richard Lapper at the FT, 26 May 2010.

Go China. Better platinum than dollars.

1 comment:

Anonymous said...


Tim Geithner hanging around Beijing chatting in Mandarin doesn't seem to have much effect on the Chinese.