DUSHANBE, March 26, 2013, Asia-Plus — Tajik-Chinese gold mining enterprise, Zeravshan Gold Company (ZGC), has introduced its own gold refinery into operation.
“We had previously refined our gold at the State Unitary Enterprise (SUE) Vostokredmet (the Industrial Association Eastern Combine for Rare Metals) but since this month, we have refined our gold at our own gold refinery,” ZGC deputy director Bobokhon Bobokhonov told Asia-Plus in an interview.
The annual rated capacity of ZGC’s affinage workshop is up to 5,000 kilograms of gold in a form of standard 12.5-kilogram gold bullion bars with a fineness of 999.9.
This year, ZGC plans to produce 1,650 kilograms of gold, which is more than 100 kilograms more than last year, Bobokhonov noted.
According to him, 171 million USD will be invested within the next six years in modernization of the company. The dressing works with capacity of 10,000 tons of ore will be introduced into operation in 2014, the deputy director added.
ZGC was launched as a joint venture with Nelson Resources Ltd (44%) and the Tajikistan government (51%) and the IFC (5%) in 1994. In September 2002, Avocet signed a heads of agreement to acquire the Tajik gold assets of Toronto-based Nelson Resources Ltd held through Nelson”s subsidiary, Commonwealth and British Minerals Ltd. The assets included a 44% interest in Zeravshan Gold. In November 2004, Avocet increased its equity interest in ZGC from 49% to 75%. In late July 2007, Avocet sold its equity stake in ZGC to China’s Zijin Mining. ZGC owns gold mining and exploration rights to a 300,000-hectare area near the town of Panjakent in northern Tajikistan.
In 2012, Zeravshan Gold Company reportedly produced more than 1,500 kilograms of gold.
