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Business

China goes for gold with overseas mining projects

A secure supply is seen as critical to the country's economic and strategic goals

Canada's Barrick Gold sees significant benefits in a partnership with the cash-rich Chinese firm Shandong Gold.   © Reuters

TOKYO -- Chinese gold miners are on the hunt for mines overseas, spurred by robust prices of the precious metal. Already the world's largest gold producer, China's sees overseas mines as part of the country's long-term strategic goals of expanding its economic influence and building up its manufacturing might.

Part of this agenda involves working with foreign partners. In early July, Canada's Barrick Gold, the world's largest bullion producer, said it would expand cooperation with China's Shandong Gold Group in developing gold mines. 

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