"Starting in 2008, we seriously began to develop overseas mining projects. The volume of resources that we acquired through trade was too small, in sharp contrast with what we really could control having an overseas mine project," Gao said.

China has been Africa's largest trading partner for five consecutive years and a major source of new investment. Meanwhile, Africa has been an important import market for China, as well as its second-largest market for overseas contract projects and the fourth-largest destination of overseas investment. China's direct investment in Africa reached $25 billion by the end of 2013. There are more than 2,500 Chinese companies with investments in Africa, according to the Ministry of Commerce.

In May, Premier Li Keqiang made an eight-day trip to Africa and visited Ethiopia, Nigeria, Angola and Kenya, aiming to expand economic ties with the continent.

Wei Jianguo, vice-chairman of the China Center for International Economic Exchanges, noted that "now is the best time for Chinese enterprises to go to Africa for investment".

In July 2009, Jinchuan Group acquired a majority stake in Zambia's Munali nickel mine, the first such overseas operation for the group.

In January 2012, the group acquired Metorex Ltd, the group's trading partner of cobalt ores, and restructured the board while retaining the management staff. Metorex, now a wholly owned subsidiary of Jinchuan Group, is headquartered in Johannesburg and owns mines in Zambia and the Democratic Republic of the Congo. The subsidiary's resources include 4.74 million tons of copper and 330,000 tons of cobalt.

In the case of South Africa's Wesizwe Platinum, the 2008 global financial crisis created a capital shortage for the company, which was listed in Johannesburg in 2005.

In May 2011, Jinchuan Group and CAD Fund took a majority stake in Wesizwe and reorganized the board. Construction on a mine project that broke ground in July 2011 is expected to finish by 2017 with a total investment of 10.2 billion rand ($955 million). Once established, the production of the mine is forecast to reach 2.76 million metric tons a year.

"The model of our overseas operations is either a majority stake or a wholly owned subsidiary, which is in line with our strategy of securing resources supplies," Gao said.

Wesizwe has 58 employees, with three from China, and has created about 1,000 jobs for locals, mainly miners, through a contractor. Employment is expected to surge to 3,500 once production starts.

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