* In August of 2010, China Gold International put in a $742 million bid to buy Skyland mining ...
* In November of 2011, Zijin Mining Group put in a $227 million bid to buy Gold Eagle mining ...
* In August 2011, Stone Resources put in a bid to take control of Crescent Gold, an Australian gold miner.
* In November 2011, Baiyin Group bid on the South African miner, Gold One International.
* And in April 2012, Sovereign Gold partnered with Jiangsu Geology & Engineering to buy two gold mines in Australia.
So how much gold does China now have, in total? No one knows for sure because China hasn't revealed the amount of its gold reserves since 2009, when China Youth Daily quoted State Council advisor Ji Xiaonan as saying, "We suggested that China's gold reserves should reach 6,000 tons in the next 3-5 years and perhaps 10,000 tons in 8-10 years."
That would make China's central bank the largest gold holder in the world, ahead of the US's approximate 8,000 tons of gold reserves -- which would put them in perfect position to take over the role of an international economic leader -- a role that the US gained through the Bretton Woods Agreement. And with our bloated entitlements, out-of-control spending, and gridlocked Congress, there appears to be nothing we can do to stop them. But this is just the first step in China's quest for global domination.
The second step in their quest for dominance: China knows it can't do this alone. Just like the US, 60 years earlier, they need to build global support for their plan. To succeed, they need partners in this endeavor. So they've already started to invest heavily in securing oil supplies from Africa, investing $6 billion to secure oil rights in Nigeria and $7 billion on oil and mining infrastructure in Guinea. They've also been making aggressive moves in Canada, America's leading oil supplier, recently investing over $6 billion to secure rights to various Canadian tar sands projects. Meanwhile in Brazil they loaned the state oil company Petrobras $10 billion in a deal that will more than triple the oil that Brazil exports to China. And in Peru they paid $3 billion for the rights to mine a mother lode of copper underneath Mount Toromocho. Not to be outdone, the state-owned Chinese company Chinalco paid $13 billion for rights to Australia's aluminum sector. And recently Sinopec paid $7.2 billion for Addax Petroleum, which has sizeable assets in Iraq and Nigeria.
Next Page 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9
(Note: You can view every article as one long page if you sign up as an Advocate Member, or higher).
7
5
5
