Initial talks about a large copper and gold mine in China began recently between the Aluminum Corp. of China, or Chinalco, and the Anglo-Australian mining company Rio Tinto. The mine would be constructed in Mongolia, reports Tad Brooks of the China Mineral Company.
Chinalco director Liu Xiangmin said recently that “Chinese enterprises cooperating overseas in resources and energy are an integral part of mining globalization.”
Analysts from the China Mineral Company highlight the deal’s optimism on the future of gold mining in China, as well as its connection to a recent study released by the Bank of America. The study cited Chinese demand for gold as the biggest driver to its stellar performance as a safe investment against currency fluctuations.
