China Said to Form State-Owned Fund to Deal With Mining DebtBy
China’s government is said to be setting up a state-owned fund to absorb bad debt in the mining sector, including loans owed by China Minmetals Corp., as the fallout from a price collapse batters the global commodities industry.
The investment company would be established by the State-Owned Assets Supervision and Administration Commission to coordinate the country’s investment in mineral resources, according to people with knowledge of the matter. The unit would take on some existing debt from the mining industry, said the people said, asking not to be identified because they’re not authorized to speak publicly…
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