Deal Success Prompts China Miner to Seek More Overseas

China Molybdenum Co., the nation’s biggest producer by market value, is seeking more acquisitions after the success of its $820 million purchase of a Rio Tinto Group copper mine in Australia.

“We’ll prefer mining assets in developed countries or regions with stable political conditions,” Li Chaochun, chairman of the Luoyang, Henan province-based company, said in a phone interview. “We are bullish on copper over the long run. It is one of our investment priorities. We’re also studying other metals.”