DUSHANBE, March 13, 2013, Asia-Plus — Tajik-Chinese gold mining enterprise, Zeravshan Gold Company (ZGC), is expected to introduce its new dressing works and affinage workshop into operation during the Navrouz celebrations (March 21-26).
This issue has reportedly been discussed at a meeting of Minister of Energy and Industries Gul Sherali with the ZGC investors.
The work on construction of the dressing works with capacity of 10,000 tons of ore and the affinage workshop with annual capacity of 5 tons has already been completed and the investors say the enterprises will be introduced into operation after March 20 this year.
Meanwhile, preparation of feasibility study for construction of a copper refinery workshop is nearing completion.
According to the Ministry of Energy and Industries (MoEI) 200 million U.S. dollars are expected to be invested in modernization of ZGC within the next four years.
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.
