DUSHANBE, September 15, 2014, Asia-Plus — The State Committee on Investment and State-owned Property Management (GosKomInvest) and China National Gold Group Corporation (CNGC or China Gold) have signed a model agreement.
The document was singed here by GosKomInvest head Qodir Qosim and China Gold deputy director-general Sun Lianzhong on September 13.
Speaking at the document–signing ceremony, Mr. Qosim said that the volume of China’s investment in Tajikistan’s economy is increasing. At the same time, he noted that there is considerable room for expansion of economic ties between the two countries.
According to the GosKomInvest press center, China Gold intends to invest in enhancement of Tajikistan’s mining sector.
At the initial stage, China Gold is reportedly expected to invest 30 million in construction of a joint venture for production of explosives for carrying out blast works. The enterprise will be constructed in southern Tajikistan.
China National Gold Group Corporation (CNGC or China Gold) is a centrally state owned Chinese gold producer with other areas of mineral business including refining of gold, silver, and copper, and production and retail of custom-designed gold and silver bars.
Besides its main mineral related business, the company also offers irradiation sterilization services to food, medical, and cosmetics companies in China, Hong Kong, and Macao. Subsidiaries are also engaged in contract engineering, import and export, and labor services for more than 40 overseas companies. China Gold also produces gold industry news publications and is the official news outlet for the Shanghai Gold Exchange and Shanghai Diamond Exchange.
In pursuit of additional gold mining assets, the parent company and its international development subsidiary, China Gold International Resources, are active in scouting for overseas gold mines. The parent company in January 2012 acquired a gold mine in the Kyrgyz Republic that holds 97 tons for $21 million from the Chaoyue Group.
