• 2 days The Federal Reserve and Money...Aspects which are not widely known
  • 8 minutes How Far Have We Really Gotten With Alternative Energy
  • 12 minutes  What Russia has reached over three months diplomatic and military pressure on West ?
  • 5 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 3 days Coincidence of EIA Report Delay? - "I had seen it delayed minutes, and a couple of times a few hours, but don’t recall something like this — do others?" asks Javier Blas
  • 18 hours European Parliament Members, Cristian Terhes et al, push back against Totalitarian Digital ID and Carbon Tyranny in Europe.
  • 4 days Demonising fossil fuels has caused major grid problem in Australia
  • 8 days "And this is perhaps the most dangerous kind of government there can be."
  • 3 days "...too many politicians believe things that aren’t true." says Robert Rapier
  • 4 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 3 days Welcome to Technocracy - The New World Energy Order... "1000s Of Sydney Homes Plunged Into Darkness As Aussie 'Price Cap' Policy Sparks Energy Shortage"
  • 5 days "How to Calculate Your Individual ESG Score to ensure that your Digital ID 'benefits' and money are accessible"
  • 329 days Beware the Left's 'Degrowth' Movement (i.e. why Covid-19 is Good)
  • 7 days ESG Topic - "German Police Raid Deutsche Bank, DWS Over Allegations Of Greenwashing" - ZeroHedge Bloomberg and others
Dave Forest

Dave Forest

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

More Info

Premium Content

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:


Download The Free Oilprice App Today

Back to homepage





Leave a comment

Leave a comment




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News