China's CIC fund bets on North American coal, gold, iron ore, potash

The $200-billion China Investment Corp. has made substantial investments in the North American mining industry and, in particular, Teck Resources.

RENO, NV - 

China Investment Corporation, one of the world's largest sovereign wealth funds, is using exchange-traded funds to take positions in the mining sector, including gold miners AngloGold Ashanti, Gold Fields and Kinross.

The fund also holds US$145 million or 155,600 shares of gold-backed ETF SPDR Gold Trust shares.

CIC also invested in miners Freeport-McMoRan Copper & Gold, Potash Corp of Saskatchewan, Teck Resources, and Vale.

The China Investment Corp's largest overall investment was in Teck Resources of which CIC bought 101,304,474 shares at $1.5 billion, which are now valued at US$3.54 billion.

CIC also discovered a holding of 50,000 shares of PotashCorp worth $5.4 million, as well as 58,991 share of Freeport valued at $4.7 million. The fund's gold mining equities holdings include 350,000 shares of Gold Fields at $4.59 million, 250,000 shares of Kinross valued at $4.6 million, and 100,000 shares of AngloGold valued at $4 million.

Finally, the sovereign fund holdings also include a $498 million investment or 18,896,562 shares of Brazilian über iron ore miner Vale.

The SEC filing detailed equity holdings in U.S. listed companies and funds worth $9.63 billion at the end of 2009.

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