China's Silk Road Fund in joint bid for Glencore mine

Hong Kong

CHINA'S Silk Road Fund, a US$40 billion pool set up to invest along the nation's ancient trade routes with Central Asia, is discussing a joint bid for Glencore plc's gold mine in Kazakhstan, people with knowledge of the matter said.

The Silk Road Fund is partnering with state-owned China National Gold Group Corp on a possible joint offer for the Vasilkovskoye mine, which could fetch about US$2 billion, according to the sources. The group is in discussions with Glencore, though there is no certainty that it will win the bidding, the sources said,…