DUSHANBE , July 14, Asia-Plus -- An administration of the gold-mining enterprise “Darvoz” (Tajik-British joint venture) intends to withdraw its 51 percent of shares from the joint venture and become independent organizations, Abduhofiz Ashurov, a judge at Tajik Higher Economic Court , said in his interview with Asia-Plus.

According to him, the “Darvoz” administration appealed to the Higher Economic Court on this subject in 2004.  “In its appeal, the enterprise administration, in particular, notes that after several years of work, the UK-based “Gold and Mineral Excavation”, which assumes the 49% ownership interest in the enterprise, in 2000 got out of the enterprise’s activity for unknown reasons and left Tajikistan,” Mr. Ashurov said.   

“Repeated appeals of the Tajik side to “Gold and Mineral Excavation” have remained without responses and therefore the “Darvoz” enterprise has decided to withdraw this company from the joint venture,” the judge said.  

“However, the “Darvoz” appeal was not considered within the period fixed by the court because plaintiff did not appear before the court,” said Ashurov, “Besides, the Higher Economic Court last year received an urgent fax from fro the British company, in which it said that it intends to continue its work within the joint venture.”  “Except this fax, the British company has not taken any other measures and the joint venture “Darvoz” has so far worked without their participation,” Mr. Ashurov said, noting that in the beginning of this month, the Higher Economic Court received an application from the Ministry of Industry with solicitation to consider this case.  

The judge has also noted that there are some unsolved issues of procedural nature in this case.  “As soon as these issues are solved, we will begin consideration of this case,” Mr. Ashurov concluded.    

NOTES: Tajikistan has 28 known gold deposits.  At present three gold extraction joint ventures are operating in Tajikistan – “Zarafshon”, “Aprelevka” and “Darvoz”.  JV “Darvoz” produces gold from its alluvial operation at the Yakhsu deposit, located in the Khatlon province in southern Tajikistan .  Tajikistan owns 51 percent of the shares and the UK-based Gold and Mineral Excavation assumes the 49% ownership interest in the joint-stock company Darvoz.