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