China has also been a buyer, but mainly on the title to resources side.
It is known among metals industry players that the Chinese have been buying mineral rights the world over, especially in Africa for going on a decade now.
Couple this with China being the no. 1 Gold Producer now, and also one of the top silver producers, also much of China's mineral resources have not yet been high graded (meaning there are still relatively shallow ore bodies with high metal content). Silvercorp comes to mind.
My treasury officer is convinced that China is shooting for 2500 metric tonne of gold in their reserves over the next 10 years. They have a long road to hoe if this bears out.
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