MOSCOW (Sputnik) — The fund will focus on gold mining. China is the world’s largest gold producer and consumer. Output slid by 0.39 percent in 2015.
"We are preparing to set up a joint mining investment fund together with our Chinese partner <…> We have already held several rounds of talks with them," Alexei Chekunkov, the head of the Far East Development Fund, a state financial institution, told RIA Novosti.
Chinese investors are expected to contribute up to 90 percent of the funds to finance 10 percent of the project’s estimated cost, with the rest coming from the venture's initiators and lenders.