China 1H Overseas Mining Investment Down 18% On Year--Official

TIANJIN, China, Nov 05, 2011 (Dow Jones) -- Chinese overseas investment in the mining sector in the first half of the year was $4.7 billion, down 18% on year, Chinese Vice Minister of Land and Resources Wang Min said Sunday.

Meanwhile, investment in China's mining sector in the January-September period was CNY2.6 trillion, up 27.9% on year, more than the overall 24.9% growth in fixed-asset investment in the same period, Wang said.

China will issue new mining rights starting next year, Wang said, adding both Chinese and foreign companies are "welcome" to explore minerals in the country.

Global gold output is likely to rise 5% this year, while global copper demand will rise more than 5% and global aluminum demand will rise more than 8%, Wang said.