DUSHANBE, June 17, 2014, Asia-Plus – China’s YanTai Yuancheng Gold Co. has announced that it reached an agreement with the gold mining joint venture Aprelevka operating in Tajikistan.

According to some Chinese media sources, YanTai Yuancheng Gold Co. will participate in development of deposits for which Aprelevka has been granted licenses.

First of all, it concerns increase in the enterprise’s floating capital, supplementary exploration of deposits and expansion of production volumes, the Chinese media sources noted.   YanTai Yuancheng Gold Co. is expected to invest in modernization of the gold mining joint venture.

We will recall that Tajik Minister of Industry and New Technologies Shavkat Bobozoda on April 29 met here with top managers of two China’s companies, YanTai Yuancheng Gold Co., Ltd and Shandong Gold Mining Co., Ltd.

An official source at the Ministry of Industry and New Technologies (MoINT) Energy said the sides had discussed issues related to cooperation in the gold mining industry.

Representatives of the Chinese companies reportedly expressed readiness to invest in enhancement of Tajikistan mining industry through making additional investments in development of the gold-mining joint venture Aprelevka.

Aprelevka was established in the Sughd province of Tajikistan in 1995.  The mining areas where Aprelevka is licensed to operate are at Aprelevka itself, Burgunda, Kizil-Cheku, Ikkijilon and the Kansai concentrating facility and nearby mill tailings.  In December 2011, the Government of Tajikistan through the Main Geology Directorate awarded Aprelevka an additional exploration license at Dashti-Stepnoye.  Dore alloy is the finished product of this enterprise.

Tajikistan owns 51 percent of the shares and Central Asian Minerals and Resources PLC (CAMAR), through its wholly owned subsidiary, Gulf International Minerals Limited, assumes the 49% ownership interest in the gold mining joint venture Aprelevka. 

YanTai Yuancheng Gold Co., Ltd, formerly YanTai Yuancheng Enterprise Group Co., Ltd, is a company principally engaged in real estate development and property management.  The Company also involves in the wholesaling and retailing of commodities.  YanTai Yuancheng Gold Co., Ltd. is based in Yantai, China.