China's Zijin Mining may also be eyeing Australia

Yet another major Chinese company may be looking at making an acquisition in the Australian resources sector, after Chinalco's tie-up with Rio Tinto and Minmetal's offer for OZ Minerals.

China's biggest gold producer Zijin Mining is looking to take advantage of the slump in commodity prices and the high debt levels of miners outside China and "Australia-listed companies might be one of its targets",  said a source close to the situation.

Zijin Mining has an ambitious plan for 2009, that is to acquire one or two big overseas miners.

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