Commodity Online
Tajikistan mining to benefit from World Bank Grant
Edited by : AL CIRCLE
2 min read
World Bank decides to boost the mining industry in Tajikistan, which has unexplored resources of coal, gold, silver, antimony and coal stands. The country is going to benefit immensely from a US$ 10 mnWorld Bank grant provided as part of Tajikistan Private Sector Competitiveness Project.
The World Bank funded project focuses on critical areas in need of reforms which can generate important improvements in the country’s business environment and capitalize on Tajikistan’s comparative advantage in the mining sector.
Tajikistan Parliament had amended the Law on Precious Metals and Stones in May 2011 that gives the State greater control over the nation’s natural wealth. The legislation increased control over the accounting, production, storage and transportation of the country’s precious metals and stones.
Tajikistan is a landlocked country situated in Central Asia whose development was hampered by civil wars until the late 1990’s.
The mainstay of the industrial sector of Tajikistan is the production of aluminum, which requires alumina and large amounts of electrical energy. Even though Tajikistan does not have its own source of alumina, due to its potential for excess electrical energy, the Soviet Union built the Tursonzoda smelter, one of the world's largest aluminum smelters, near Dushanbe. The factory can produce as much as 500,000 metric tons of aluminum annually.
“The Government of Tajikistan believes the private sector must spearhead a new growth model for the country and the World Bank fully supports this vision. This operation will make it easier for entrepreneurs to start a new business and reduce the time spent by all firms on unnecessary administrative requirements,” said Marsha Olive, World Bank Country Manager for Tajikistan.
With rising prices, many companies in Tajikistan and overseas are keen to invest in mining gold and silver. IFC, a member of World Bank group has also provided advise to the government on tapping silver, gold potential of the country and how to attract private investment.
Tajikistan produced 2,050kg of gold in 2010, the highest production in the past few years and 690kg more than in 2009.
The World Bank funded project focuses on critical areas in need of reforms which can generate important improvements in the country’s business environment and capitalize on Tajikistan’s comparative advantage in the mining sector.
Tajikistan Parliament had amended the Law on Precious Metals and Stones in May 2011 that gives the State greater control over the nation’s natural wealth. The legislation increased control over the accounting, production, storage and transportation of the country’s precious metals and stones.
Tajikistan is a landlocked country situated in Central Asia whose development was hampered by civil wars until the late 1990’s.
The mainstay of the industrial sector of Tajikistan is the production of aluminum, which requires alumina and large amounts of electrical energy. Even though Tajikistan does not have its own source of alumina, due to its potential for excess electrical energy, the Soviet Union built the Tursonzoda smelter, one of the world's largest aluminum smelters, near Dushanbe. The factory can produce as much as 500,000 metric tons of aluminum annually.
“The Government of Tajikistan believes the private sector must spearhead a new growth model for the country and the World Bank fully supports this vision. This operation will make it easier for entrepreneurs to start a new business and reduce the time spent by all firms on unnecessary administrative requirements,” said Marsha Olive, World Bank Country Manager for Tajikistan.
With rising prices, many companies in Tajikistan and overseas are keen to invest in mining gold and silver. IFC, a member of World Bank group has also provided advise to the government on tapping silver, gold potential of the country and how to attract private investment.
Tajikistan produced 2,050kg of gold in 2010, the highest production in the past few years and 690kg more than in 2009.
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