Russian fund plans a $1bn mining venture with China Gold

Russia’s State-owned Far East Development Fund is in talks to create a $1-billion joint venture to invest in the country’s mining industry with China National Gold Group, a government controlled producer of the precious metal. "We and China Gold will create an attractive financial platform that private investors can take part in and make money," Alexey Chekunkov, head of the fund, said in an interview in Danang, Vietnam, where he attended an Asia-Pacific Economic Cooperation business forum. "Our first goal will be to invest in gold, precious metals and copper projects."