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 by Staff Writers Dushanbe, Tajikistan (AFP) June 24, 2018
China and Tajikistan embarked on a new $200 million gold and antimony mining venture Sunday, the Tajik presidential press service said, as Beijing expands its hold over the impoverished Central Asian country's mineral resources. On Sunday a groundbreaking ceremony was held for a mine that is expected to produce its first gold and antimony in 2020. The venture between Tajikistan's state-owned aluminium smelter Talco and Chinese company Tibet Huayu Mining Co., Ltd 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, some in exchange for Chinese loans and investment in other areas of the economy. Total deposits at the mine that will be operated by the newly created and jointly owned company Talco Gold are estimated to be 50 tons of gold and 265,000 tons of antimony, according to the presidential 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. The poorest country to emerge from the wreckage of the Soviet Union in 1991, Tajikistan is strongly dependent on Chinese investment for its largely agrarian economy. Much of the Chinese investment has been facilitated by state-owned Export-Import Bank of China, to which Tajikistan reportedly owes more than $1.2 billion, equivalent to nearly a fifth of its GDP. ab-cr/am/bp
French crystal maker Baccarat joins Chinese magnate's collection Paris (AFP) June 21, 2018 A Chinese businesswoman who is an avid buyer of Baccarat glassware added the famed French crystal maker to her collection of business assets on Thursday in a 164-million-euro ($189 million) deal. Coco Chu - founder of the Hong Kong-based Fortune Fountain Capital - has completed the acquisition of Baccarat, whose hand-crafted sculptures and champagne flutes have been made since the reign of Louis XV. Baccarat announced that Fortune will buy an 89 percent stake held by the US investment firms St ... read more
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