AKIPRESS.COM - The Chinese Jinfeng gold mining company sold 5% of its stake in the authorized capital of the Zarafshon joint enterprise to the Government of Tajikistan for a symbolic price of $1, a source in the Government reported.

President of Tajikistan Emomali Rahmon on February 5 ordered the Head of the State Property Committee Farrukh Hamralizoda to sign the agreement with the Chinese gold mining company Jinfeng on purchase of 5% of its stake on behalf of the Government of Tajikistan.

After signing of the agreement, the share of Tajikistan in the authorized capital of the largest joint enterprise of the country Zarafshon will make $7.3 million, which is 30% of the authorized capital, and the Chinese Zijin Mining Group Company Limited — about $17 million (70%).

Zarafshon joint stock company was founded in 1994 on the base of the Tajik gold mining company. The controlling interest in the joint venture was originally owned by the British Commonwealth & British Mineral Ltd. In 2007, a controlling stake was purchased by the Chinese gold mining company.

According to the Ministry of Industry and New Technologies of Tajikistan, about 5 tons of gold were produced in 2016.