DUSHANBE, May 20, 20013, Asia-Plus — Tajik President Emomali Rahmon has held talks with top managers of a number of Chinese companies in Beijing, China.
President Emomali Rahmon arrived in Beijing on Sunday afternoon, kicking off his state visit to China.
On the same day, Emomali Rahmon held talks with Mr. Huang Jinajun, Head of Global China Company and Mr. Wang Hai Tao, President of the China Mining Industry Association, the Tajik president’s official website reports.
In the course of the talks, the reportedly discussed issues related to establishment and development of Tajikistan-China joint venture, Zarnisor, and bilateral cooperation between Tajikistan and China on exploration and development of other mineral deposits in Tajikistan.
Thus, Global China is ready to invest more than 250 million U.S. dollars in establishment and development of the Zarnisor JV and construction of large metallurgical plant in the Tajik northern city of Taboshar, Sughd province. The enterprise is expected to create of up to 3,000 new jobs for local residents.
Tajik president called on Chinese entrepreneurs to actively participate in international tenders for exploration and development of mineral deposits in Tajikistan.
On the same day, President Rahmon met with Mr. Chen Jinhe, President of Zijin Mining Group (China’s mining company). Their meeting focused on increase in production of gold by Tajikistan-Chine joint venture, Zeravshan Gold Company (ZGC).
Over the past six years, Zijin Mining has reportedly invested 210 U.S. dollars in development of ZGC.
Some 2,000 people now work with the Zeravshan Gold Company. The company expects to increase annual product of gold to 4-5 tons in 2014-2015 and the number of people working with the company will increase to 3,000.
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 Zijin Mining. ZGC now owns gold mining and exploration rights to a 300,000-hectare area near the town of Panjakent in northern Tajikistan.
President Rahmon’s meeting with Mr. Go Jensian, Director of Dunin for Investment and Development focused on issues related to construction of oil refinery in southern Tajikistan. The oil refinery is expected to create some 500 new jobs.
