Temasek to Invest in Africa

25 March 2010 (Last Updated March 25th, 2010 18:30)

Singapore sovereign wealth fund Temasek Holdings is looking to invest in the mining sector in Africa and increase its exposure to mining in Mongolia. Temasek Holdings managing director of investments Nagi Hamiyeh said the company has already invested in the mining space of Mongolia and is

Singapore sovereign wealth fund Temasek Holdings is looking to invest in the mining sector in Africa and increase its exposure to mining in Mongolia.

Temasek Holdings managing director of investments Nagi Hamiyeh said the company has already invested in the mining space of Mongolia and is looking to continue this investment in other countries as well, according to Reuters.

Temasek was one of the key investors for the $439m Hong Kong IPO of Mongolia-focused miner SouthGobi Energy Resources.

It also holds a $150m stake in Lung Ming, which owns and operates the Eruu Gol iron ore mine in Mongolia.