Sinopec, China’s largest oil refiner, is in talks to acquire Geneva-based oil and gas producer Addax Petroleum for approximately USD $8 billion. Addax is mainly based in West Africa and the Middle East. It produced 134,730 barrels of oil a day in the 1^st quarter. Meanwhile CNOOC, China’s 3^rd largest oil company, is planning a USD $4 billion deal for the assets of US-based Kosmos Energy LLC.

China Minmetals Non-ferrous Metals Company’s proposed acquisition of Australian miner OZ Minerals has received OZ’s shareholders’ approval. The acquisition price is USD $1.386 billion. OZ is the world’s second largest producer of zinc. It also produces copper, gold, lead and silver.

China is taking full advantage of this depressed economy to acquire as much assets as it can to bolster its holdings in various resouces around the world. This can be seen on these large scale acquisitions or on a smaller scale by individuals purchasing investment property here in the US.