The Research On The Investment Environment Abroad Of China In Gold Resource

The world gold resources are abundant across six continents with large potential. Based on2818tons output in2012, Static guarantee period of reserves is18years and base reserves is35years, which can meet the future demand. The gold resource is relatively concentrated and most of the deposits are large-scale and ultra-large type. In2012, China has the world’s ninth largest gold reserves. But there are too many small mineral deposits and a few medium-large size deposits which is not convenient to intensively exploit. Most mines are medium grade.In2012, the gold production of China is430.1tons, almostly reaching to the annuel add resource, which leads to low resource guarantee and will restrain the sustainable development of the national gold resource.Global gold ore exploration is always hot in solid mineral exploration. According to the statistics of RMG, budget of global nonferrous metals exploration is about20.5billion. Gold ore exploration took47%of it. Each country has hit a record high on the expenditure of exploration with largest increase in LatinAmerica and Africa. Latin America ranks first on the investment of exploration. And most of the money used in gold exploration. Africa is the second largest area exploration spending growth. Next are Canada, Eurasian, Australia, USA and Austronesia in order. As the increased exploration and investment of gold in recent years, many large mineral deposits are found out and the new discovered deposits of gold outnumber the other minerals combined. The hot spots of exploration are still western Africa, Eurasian, USA and Austronesia.This paper has introduced two evaluation methods (Fraser and Behre Dolbear), and then has chosen six typical countries and established an indicator system, taking their resource potential and investment environment into consideration, which was based on analytic hierarchy process (ahp). Then synthetically evaluated the situation of the six countries, come to an order when China companies invest abroad: SouthAfrica--Canada--Russia--Australia--Uzbekistan--Peru.South Africa has the world’s2nd largest gold reserves. South Africa also has a good investment environment, accelerating economic development and a good relationship with China which leads to the highest weighting among the six countries. Canada has abundant gold resources with developed economy, good policy, stable politicalsituation and good relationship with China which is prior to invest. Russia, Uzbekistan, Australia etc. have relatively large potential of gold resource in the Asian-Pacific region and high scores on relationship with China, which are also prior to invest. In Latin America, countries with abundant gold resources are Brazil,Chile, Peru and so on. Some of them have high exploration degree of gold resource, with complete laws and regulations. They are important venture exploration regions for China to step into Latin America in the future. Disadvantages of investment in this area are relatively fierce competition and the unit cost of investment and exploitation are higher compared with the other areas.