chinese overseas share mine frequently gold favored

china national gold group plans $ 3.9 billion acquisition of africanbarrickgoldplc.the wall street journal (blog, microblogging),said the gold producer in china recently launched an offensive on the gold assets overseas concern, despite the slowdown in economic growth is being dragged down the price of gold, but these gold companies to take action is actually a bet the price of gold mayremain strong.china is currently the world's second-largest economy, accelerated fundamentals to support overseas expansion.china's gold production last year of about 360 tons, while consumption of nearly 800 tons.china national gold group talks succeed, the company will become the latest in a domestic gold enterprises to expand overseas expansion.the state-owned china national gold group corporation is china's largest gold producer, its production accounts for a fifth of the country's total gold production.gold output ranked second in china zijin mining (601,899, stock it) group, has announced that its subsidiary has acquired more than 50% interest in the kalgoorlie's norton gold fields limited.
this transaction enables zijin mining gained a foothold in the australian market, australia is the world's second-largest gold producer, second only to china.zijin mining had 2011 acquisition of the mining companies headquartered in kazakhstan altynken60% interest, which also owns the rights and interests of a gold mine in kyrgyzstan.last november, launched a $ 1 billion acquisition of shandong gold (600,547, stock it) mining co., ltd. jaguarmininginc brazilian gold mining enterprises.shanghai mid-term futures, precious metals analyst pointed out that li ning, the chinese gold enterprises are indeed looking for overseas resources, partly because of the poor quality of domestic gold another reason is that these companies want to learn the advanced technology of the gold mine.said li ning, china's gold mining technology can be up to 2000 m depth below sea level, but the foreign technology can achieve the depth is three times that of china.china's official gold reserves held only 1.6%, while the proportion in the united states, germany, italy and france are more than 70% of the foreign exchange reserves, foreign media holdings has great potential.mining and resources of ubs (ubs) analyst bart hill said, focus on overseas expansion has two advantages first, compared to buy gold in the market, the former may be a cheaper, more effective, and more not citednotable increase in the gold reserves of the channels.second, china's mineral reserves seem to maintain not for many years, therefore, the acquisition of assets is the most sensible option to go abroad.domestic and international gold prices have fallen over in february this year, the peak of about 10%.however, some well-known investors, with china national gold group agree to movements in the gold price.last week, a u.s. securities documents show that the second quarter of this year, the hedge fund king,said paulson in spdrgoldtrust gold holdings increased by 26%, soros's positions more than doubled.restart quantitative easing in the united states and europe, the factors supporting the central banks and a strong willingness to buy gold as a the capitalsafe havenefficacy re-watching liter.according to foreign reports, in the second quarter, the world's official gold buying growth more than doubled, reaching a record 157.5 tons.countries such as russia, kazakhstan, turkey and ukraine in the second quarter were announced to increase gold reserves.the industry estimates that the global central bank purchased nearly 500 tons of gold this year, is expected to hit the maximum annual purchase amount since 2009.ubs recently released report said the average price of gold this year is expected to $ 1 680 an ounce.forecasts released at the end of the line, said the next three months the average gold price of $ 1,750, raised by about 9% compared with the previous forecast.rudolph, an analyst at commerzbank, said that in the next six months, calculated in euros, the price of gold is expected to refresh last year hit a record high.site for information purposes only and does not constitute investment advice.investors operate your own risk.
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