El Maniel International has entered into advance discussions with a gold refinery in Hong Kong SAR, China, to supply gold from Ghana, Western Africa.
According to the World Gold Council, China’s gold demand is expected to double in 10 years as more investors accumulate and in the short-term, the demand for gold will be enough to strain global supplies.
China is currently buying 50% of the world’s gold production and this explosive demand is expected to bring the gold price to record high levels in 2011 as price dips are being seen as buying opportunity.
El Maniel International CEO Jamie Khoo said that the company is encouraged by the level of interest and demand for gold in Hong Kong and China and it is expecting to formalize its negotiation into long-term supply contracts by the end of March 2011 with the first shipment as early as April 2011.
El Maniel International is a company currently focused on prospecting, developing and expanding the economic potential of mining claims located in Ghana , West Africa.