• 4 minutes Projection Of Experts: Oil Prices Expected To Stay Anchored Around $65-70 Through 2023
  • 7 minutes Oil prices forecast
  • 11 minutes Algorithms Taking Over Oil Fields
  • 14 mintues NIGERIAN CRUDE OIL
  • 2 hours How Is Greenland Dealing With Climate Change?
  • 4 hours China Car Sales Plummet: Can Musk Unshovel His Groundbreaking?
  • 15 hours "Peace Agreement" Russia vs Japan: Control Over Islands Not Up For Discussion
  • 8 hours How Much Oil Does Aramco Have?
  • 2 hours Socialists want to exorcise the O&G demon by 2030
  • 2 hours BofA Sees Oil at $35-70
  • 6 hours Venezuela continues to sink in misery
  • 1 day Solid-State Batteries
  • 13 hours Spy&State: Huawei Founder Says Firm Does Not Spy For China
  • 14 hours Oil Slide Worries Traders. *relax* This Should Get Sorted by Year End.
  • 1 day protests in Canada over pipeline
  • 18 hours China's Exports Shrink Most In Two Years, Raising Risks To Global Economy
  • 1 day WSJ: Gun Ownership on Rise in Europe After Terror Attacks, Sexual Assaults
  • 20 hours Bolsonaro Wins in Brazil
Alt Text

Oil Posts Longest Rally In 17 Months

Oil prices continued their rebound…

Alt Text

The Oil Bull Market Is Back

Oil entered a bull market…

Dave Forest

Dave Forest

Dave is Managing Geologist of the Pierce Points Daily E-Letter.

More Info

Trending Discussions

Is China’s Silk Road Fund About To Make A Big Move In Gold?

China’s new Silk Road trade route is quietly becoming one of the biggest stories globally in natural resources. With reports the past week showing that this emerging trade corridor may have a new target commodity for big Chinese investors.

Gold.

Bloomberg broke the story late last week that China’s $40 billion Silk Road Fund is looking at buying its first gold mine. With the big buyer reportedly in talks over the Vasilkovskoye operation in Kazakhstan.

Vasilkovskoye currently belongs to Glencore — a firm that is aggressively selling assets in order to pay down debt. And it appears the sale of Vasilkovskoye may go a long way toward that goal, with the Silk Road Fund apparently considering a price tag around $2 billion.

Reports suggested that the Silk Road Fund won’t bear this whole burden. With the fund instead looking to partner with gold producer China National Gold Group in making the acquisition.

All of which would be a major development for a number of reasons. Not least of which because it would be one of the Silk Road Fund’s biggest acquisitions anywhere in the mining space since its creation in 2014.

But the fact that the big buy is coming in gold is especially significant. Showing that Chinese appetite for precious metals assets in reaching significant levels — a revelation supported by the involvement of another major Chinese mining firm in the potential bid. Related: Iran Aims To Double Oil Exports, These Are The Hurdles

In fact, sources said that two other Chinese miners — Shandong Gold Mining and Zijin Mining Group — might actually make an opposing bid against the Silk Road Fund for Vasilkovskoye. Showing that interest in quality gold assets is running high throughout the Chinese resource sector.

That’s great news for project developers globally — and especially those falling within the Silk Road corridor. Watch for more deals being investigated in spots like the ‘Stans, Mongolia, and maybe even as far as Iran.

Here’s to the road made by people walking

By Dave Forest

More Top Reads From Oilprice.com:




Back to homepage

Trending Discussions


Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News