Tajik-Canadian gold mining joint venture needs additional funds for development of new deposits

Tajik-Canadian gold mining joint venture, Aprelevka, needs additional funds for development of new deposits.  Investors have reportedly promised to assist with attracting additional funds.  

JV Aprelevka plans to attract additional funds for development of new deposits.  “Our enterprise needs additional investments for development of new deposits”, Bakhtiyor Majidov, Director General of Aprelevka Ltd, said at a meeting with foreign investors.

Investors reportedly visited the enterprise’s mountain areas on February 18-19.  Aprelevka Ltd Chairman Peter Zilman (phonetically spelled) from Switzerland and Director of the Development Corporation of Gold Mining Corporation Ltd Thomas Blake (Hon Kong) reportedly got acquainted with the enterprise’s activity.

“Investors have got acquainted with mining work carried out at Aprelevka, Burgunda, Kyzyl-Cheku and Ikkijelon deposits,” representative of JV Aprelevka told Asia-Plus in an interview.

According to him, they have promised to assist with attracting additional investments for carrying out exploration works at new deposits.

The Tajik-Canadian gold-mining joint venture Aprelevka was established in Sughd province in 1995.  Dore alloy is the finished product of this enterprise.  Tajikistan owns 51 percent of the shares and the Canadian company Gulf International Minerals assumes the 49% ownership interest in the joint-stock company Aprelevka.  60 percent of the company’s product reportedly goes to replenishing Tajikistan’s golden reserves. 

The company is currently engaged in mining and processing ores at Aprelevka, Kyzyl-Cheku, Burgunda, Ikkijelon and other small deposits in Sughd province.  

According to specialists from the Tajik Main Geology Directorate, the gold and silver reserves of the Ikkijelon deposit are estimated at 3.5 tons and 7.5 tons respectively.  Mining of ores at the Ikkijelon deposit had started in the Soviet time already.  The mining of the deposit was suspended in the early Nineties.

As far as the Eastern Aprelevka deposit is concerned, according to data of the Soviet era, the Eastern Aprelevka deposit has possible gold reserves of more than 2 tons and possible silver reserves of 14 tons.