China Nonferrous Gold Snowfall Impacts Progress at Pakrut Gold Mine
February 28 2017 - 5:38AM
UK Regulatory
TIDMCNG
28 February 2017
China Nonferrous Gold Limited
("CNG" or the "Company")
SNOWFALL IMPACTS PROGRESS AT PAKRUT GOLD MINE
China Nonferrous Gold Limited ?????????? (AIM: CNG), the mineral
exploration and mining company currently mining the Pakrut gold
project in the Republic of Tajikistan, announces that in recent
weeks the area of surrounding the Pakrut gold mine project has
experienced high levels of snowfall resulting in an avalanche and
landslide.
The avalanche has disrupted local traffic and resulted in the
interruption of power supply in the Pakrut area. Although the
smelting and processing plants are undamaged, several buildings
have collapsed and combined with the continuing lack of power at
site, the avalanche is expected to have a significant impact on
gold production. Fortunately however, there were no casualties.
The full impact of the avalanche is still being evaluated and
the Company will provide an update in due course. In 2016 the
Company purchased mine property insurance and the provider is
currently preparing to survey the site.
For further information please visit the Company's website
(www.cnfgold.com) or contact:
China Nonferrous Gold Limited
David Tang, Managing Director
Tel: +86 10 8442 6681
Investec Bank Plc
Jeremy Ellis, George Price
Tel: +44 (0)20 7597 5970
Beaufort Securities Limited
Jon Belliss
Tel: +44 (0)20 7382 8300
Blytheweigh
Tim Blythe, Camilla Horsfall
Tel: +44 (0)20 7138 3224
Project Summary
The Pakrut gold project, of which CNG has 100 per cent
ownership, is situated in Tajikistan approximately 120km northeast
of the capital city Dushanbe. Pakrut is located within the Tien
Shan gold belt, which extends from Uzbekistan into Tajikistan,
Kyrgyzstan and Western China, and which hosts a number of
multi-million ounce gold deposits.
CNG is currently in a commissioning phase with mining
contractors on site finalising constructing of the mine, plant,
tailings dam and refinery.
About Tajikistan
Tajikistan is a secular republic located in Central Asia. The
country is a member of the Commonwealth of Independent States and
the Shanghai Cooperation Organisation. Tajikistan hosts numerous
operating precious metal mines as well as the largest aluminium
smelter in Central Asia. CNG's management team has extensive
experience in the mining industry in Tajikistan.
View source version on businesswire.com:
http://www.businesswire.com/news/home/20170228005890/en/
This information is provided by Business Wire
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February 28, 2017 05:38 ET (10:38 GMT)
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