DUSHANBE, May 12, 2011, Asia-Plus — To increase annual productivity of Tajik-Canadian gold-mining joint venture, Aprelevka, its Canadian investors plan to make additional investment in the company in July this year, according to the Ministry of Energy and Industries (MoEI).
Mr. Oliver Vaughan, Head of the Board of Directors, Gulf International Minerals (Canada) and Mr. Peter Zillman, Head of the Board of Directors, JV Aprelevka, reportedly remarked this here yesterday during a meeting with Tajik Minister of Energy and Industries Gul Sherali.
Gul Sherali noted that increase in the annual productivity would be profitable both to Tajikistan and investors. Purchase of the necessary modern equipment would enable the company to increase its productivity twice as much, Tajik minister noted.
Meanwhile, Mr. Vaughan noted that to attract additional investments their company planned to go into the London Stock Exchange, the source said.
The Tajik-Canadian gold-mining joint venture, Aprelevka, was established in the northern 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.
Over the first half-year of 2010, the company produced 203 kilograms of gold, which was 22.5 kilograms fewer than in the same period of 2009. The main reason for decline in productivity was disruption of electricity deliveries from neighboring Uzbekistan in February 2010. The company now has its own power transmission line and does not depend on electricity deliveries from the neighboring republic.
