China's mining sector sees multi-billion deals

There were 15 venture capital and private equity deals made in Chinese mining sector since the start of 2013, and the investment amount of eight ones reveals $4.37 billion in total deals, ChinaVenture Group told China Daily on Monday.

The largest one was Guolian Industrial Investment Fund, which invested 24 billion yuan ($3.88 billion) in PetroChina Pipeline United Co Ltd to acquire 20 percent shares in June, 2013.

"Mineral resources have been the material basis of social development, and because they are rare and finite, they get attention from venture capital and private equity investors," said Li Ling, an analyst at ChinaVenture Group.

With tougher competition in the Chinese venture capital and private equity market, there have been more specialized funds, including those in the mining sector.

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