China is evidently very interested in buying gold direct from source, you might say, rather than pay the gold spot price. Last year they came to an agreement to buy or hold a controlling interest in a Fijian gold mine and also looking to buy one in Canada. Now the Zijin mining group are launching a 299 million dollar bid for Norton Gold Fields who operate the Paddington gold bullion mine not far from Kalgoorlie in Western Australia.
And it was Chinese interests that forked out 80 million dollars to buy the controlling stake in the Australian owned Zara gold project in Eritrea. Even as far back as 2010 China was interested in buying gold mines rather than on the market from the IMF and other gold bullion sources.
And it was Chinese interests that forked out 80 million dollars to buy the controlling stake in the Australian owned Zara gold project in Eritrea. Even as far back as 2010 China was interested in buying gold mines rather than on the market from the IMF and other gold bullion sources.
Of course China is paying for these with part of the 1.2 or so trillion dollars of US debt it has before the value of that debt deteriorates in lost value.
More information can be found online at http://www.goldbullionadvisors.com
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