DUSHANBE, October 19, 2015, Asia-Plus – The second affinage plant has been launched at Zeravshan Gold Company (ZGC).
According to the Tajik president’s official website, an official opening of the affinage plant took place yesterday and it was attended by President Emomali Rahmon.
The second affinage plant was reportedly built at ZGC during a year and a total cost of the project is 1 billion somoni. The project created 185 new jobs.
ZGC produces up to 2.2 tons of gold per year, the website says.
China’s Zijin Mining now owns 75 percent of the shares in Zeravshan Gold Company (ZGC).
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 2007, Zijin Mining Group Co acquired Avocet’s equity stake in Zeravshan Gold Company.
Zijin Mining Group Co., Ltd is listed on the Hong Kong Stock Exchange under the stock code of 2899. In 2005, its gold production ranked 20th among global gold producers with a yield of 20.96 tons. Since December 20th 2005, Zijin Mining has been included in the FTSE mine index. On March 20th 2006, Zijin entered into the Dow Jones Offshore 50 Index.
