China is making a return to African mining after a hiatus of nearly two years, seeking new copper, iron ore and uranium deposits in a sign that Beijing remains a keen investor in the continent’s industry.
But executives and bankers attending the annual Mining Indaba conference in Cape Town warned that China was unlikely to spend large sums solely to secure a flow of commodities, as it had done until 2012.
Beijing was more likely to buy smaller assets offering strong financial returns and raw materials, they said.
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