Loading ...State-owned China National Gold Group and Russia’s Far East Development Fund (FEDF) are said to be in negotiations to set up a new investment fund focused on financing gold projects in eastern Russia.
According to Sputnik News, Chinese investors would contribute up to 90% of the funds needed to cover 10% of the project’s estimated cost, with the rest coming from the venture’s initiators and lenders.
Russia’s Far East Development Fund owns nearly half of the country’s total gold deposits, as well as 40% of copper and large deposits of rare earths, the article says. The deal would allow the fund to move forward with projects that have been stalled for lack of investment.
cont. http://www.mining.com/china-russia-mull-setting-joint-gold-mining-fund/