The Tajik government has reportedly agreed to give Xinjiang Tebian Electric Apparatus Stock Co. Ltd (TBEA) the rights to further mining deposits if the profit made from two gold deposits doesn’t cover the cost of building the Dushanbe-2 combined heat and power (CHP) plant.
In an interview with China’s media, TBEA top manager Zhang Xin said that according to data provided by the Tajik government, the mineral resources (gold deposits) can cover the company expenses on construction of the Dushanbe-2 CHP plant.
He noted that the Tajik government had agreed to give TBEA the rights to further mining deposits (the location was not identified) if the profit made from the gold deposits doesn’t cover the cost of building the Dushanbe-2 CHP plant.
At the same time, Mr. Zhang noted that the deposits given to TBEA have large gold reserves, and if all resources are implemented completely the will bring large economic profit to the company.
Recall, Tajik government granted licenses to develop two gold deposits in the country to TBEA. The licenses have reportedly been offered in exchange for construction of a new combined heat and power (CHP) plant in Dushanbe.
“The license for development of the Upper Kumargh gold deposit was granted to TBEA at the beginning of this year,” an official source at the Main Geology Directorate under the Government of Tajikistan told Asia-Plus in an interview.
According to him, the license for development of the Duoba gold deposit had been granted to TBEA earlier.
The licenses have reportedly been offered in exchange for construction of a new combined heat and power (CHP) plant in Dushanbe. “Under the reached agreements, TBEA has the right to develop the deposits until it recovers expenses made on construction of the Dushanbe-2 CHP plant,” the source said.
“After that, new agreements on development of these deposits will be concluded with the company under other conditions,” the source added.
Both deposits are located in the Ayni district of the Sughd province, and according to expert estimates, one ton of these deposits’ ore contains more than two grams of gold.
Recall, TBEA in 2013 received necessary licenses from the Government of Tajikistan to conduct exploration operations at both these deposits until 2017. The company was also exempted from customs duties and value added tax on import of equipment.
A total cost of the Dushanbe-2 CHP plant constructed by TBEA is 349 million U.S. dollars, including a US$17.4 million contribution of the Tajik Government.
Xinjiang Tebian Electric Apparatus Stock Co. Ltd (TBEA) is one of the largest electrical manufacturing groups in China and the first floated stock company in Chinese A Shore Market in transmission industry of China after merging the former Hengyang Transformer Works (a large-size stated company founded in 1958 and located in Hunan province, China), and well-known for manufacturing all kinds of high voltage power transmission, transformation and distribution equipment. Under the administration of TBEA, there are 10 large backbone factories, 5 research institutes, 6 business entities and 8 participated enterprises.
