Golden hopes for venture

Source: Xinhua | 2018-06-25

CHINA and Tajikistan embarked on a new US$200 million gold and antimony mining venture yesterday, the Tajik presidential press service said.

A groundbreaking ceremony was held yesterday for a mine that is set to produce its first gold and antimony in 2020.

The venture between Tajikistan’s state-owned aluminum smelter Talco and Chinese company Tibet Huayu Mining Co is expected to produce 1.5 tons of gold annually and 16,000 tons of antimony.

China has acquired rights to a number of mineral concessions in Tajikistan in recent years.

Total deposits at the mine that will be operated by the new jointly-owned company Talco Gold are set to be 50 tons of gold and 265,000 tons of antimony, according to the press service.

This year another Chinese company TBEA acquired the rights to operate a mine in Tajikistan’s northern Sugd region as partial compensation for its construction of a power plant.