Gold Companies Take a Shine to China's Silk Road

China National Gold Group Corp. has mandated its Canada-based subsidiary China Gold International Resources Corp. with making overseas acquisitions. The CEO of China National Gold, Song Xin, notes that the decision is related to ‘Belt and Road’ countries accounting for 80 per cent of global gold consumption. This latest action is mirrored by Zijin Mining Group Co, which is already generating half of its revenues abroad after embarking on a “go global” strategy in 2005, where the company set up projects in three countries along the modern ‘Silk Road.’ Two other companies, Shandong Gold Mining Co., and Zhaojin Mining Industry, have also made efforts to establish a presence along the Silk Road and overseas.

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