KHUJAND, January 26, 2009, Asia-Plus — Because of the ongoing global financial crisis resulting in quotation of gold decreasing, the gold-producing enterprises in the Sughd province are experiencing problems with realization of the produced gold, the Sughd energy and industries directorate Sodiq Rustamov said in an interview with Asia-Plus.
According to him, two gold-mining enterprises located in the province – JV Zeravshan (Zeravshan Gold Company or ZGVC) and JV Aprelevka – are continuing to work, however, administrations of both enterprises are seeking way out of the situation that emerged.
“As far as I know, ZGC has even discussed the possibility of decreasing the production volumes,” said Rustamov, “Despite this, Chinese investors have not yet abandoned their plans to modernize the enterprise and are continuing investing in it.”
He further added that ZGC produced 89.4 million somoni worth of output last year, which was 101.5 percent of the 2007 level. “The Joint Venture Aprelevka produced 47.2 million somoni worth of output last year, which was 0.5 percent more than in 2007,” the Sughd official said.
The Zeravshan Gold Company has been operating since 1996 and provides most of gold produced in Tajikistan. In July 2007, ZGC had a significant change of ownership. Avocet Mining, the UK-listed owner of 75% of ZGC sold out its interest to China’s Zijin Mining Group Co., Ltd. The main product of ZGC is gold-silver Dore alloy, which is refining at affinage plant in Tajikistan with producing of chemically pure gold and silver (99.99 and 99.95 alloys respectively).
The Tajik-Canadian gold-mining joint venture Aprelevka was established in the Sughd province in 1995. The company is engaged in mining and processing of ores at Aprelevka, Kyzyl-Cheku, Burgunda, Ekiljon and other small deposits in northern Tajikistan. 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 goes to replenishing Tajikistan’s golden reserves.
