Chinese planners want more overseas mine investment

China’s top economic planning authority says it needs to invest more in overseas mining projects to improve its pricing power, according to the Sydney Morning Herald.

In analysis published on its website, the National Development and Reform Commission said Chinese iron ore imports would continue to rise and the country would remain dependent on imports.

It also said the “monopolisation” of global iron ore resources was expected to continue.

China has long tried to diversify its supply sources and ease dependence on top producers in Australia and Brazil, including Rio Tinto, BHP Billiton and Vale.

China imported 819 million tonnes of iron ore last year, an increase of 10.2% from 2012, with Australia and Brazil together supplying almost 70% of the shipments.

Spotlight on Poseidon's Windarra nickel project

Market sentiment towards nickel miners will be tested on Tuesday morning when one of Australia's most challenged explorers updates investors on its long-awaited capital raising, while two other local players report December quarterly results, according to the Sydney Morning Herald.

Andrew Forrest's Poseidon Nickel spent the long weekend seeking to raise funds for the development of its Windarra project in Western Australia.

Poseidon is believed to be seeking $US197 million ($226 million) to develop the project, but also needs at least $9 million to repay capital and interest on a loan to its biggest shareholder, Forrest.

China Mining wants a foothold in WA goldfields

Chinese-owned enterprise China Mining hopes to defy the gold bears as it seeks to raise a maximum of $5 million when it launches an initial public offering next month, according to the Australian Financial Review.