The Wall Street Journal ,28 Oct 2009
China Investment Corp. has reached a deal to invest up to $700 million in Mongolia-focused Iron Mining International Ltd., the latest move by the sovereign wealth fund to plow cash into commodities.
Two high-profile backers for the Mongolian mining venture are staying in the deal. Singapore's Temasek Holdings Pte. Ltd. and private-equity firm Hopu Investment Management Co., have invested a combined $300 million in the firm. Hopu is a $2.5 billion fund raised by Chinese dealmaker Fang Fenglei and former Goldman banker Richard Ong.
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