SHANGHAI, July 27, SinoCast -- China's Silk Road Fund and China National Gold Group Corporation are in joint negotiations on takeover of Kazakhstan's largest gold mine. This is the first time the USD 40 billion Silk Road Fund established in 2014 bids a gold mine in Central Asia, which would means that China's appetite for gold is reaching a new high.
The Kazakhstan's gold mine is a unit of Glencore. Glencore is selling assets in a big way in order to repay debts.
Media reports that Shandong Gold and Zijin Mining are likely to compete for the gold mine with the Silk Road Fund. The largest gold mine in Central Asia will be taken over by China no matter who wins the deal.
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