Gold Fields Ltd became sole owner of Talas Copper Gold LLC
Bishkek, July 20 / Kabar /. Gold Fields Ltd became the sole owner of Talas Copper Gold LLC after buying 40% share of the British Orsu Metals Company.
Gold Fields Ltd being the managing partner of Talas Copper Gold LLC (TCG) bought the remaining 40% interest of TCG from Orsu Metals Company for $ 10 million.
Recall that the recently director of Gold Fields Ltd Nick Holland met with President Almazbek Atambayev as well as with representatives of the Jogorku Kenesh and the Government of the KR. "During the meetings constructive, honest and open discussion were held, that reinforced the belief of Gold Fields in support of the Government and contributed to the decision to take full control of Talas Copper Gold LLC", the company said.
Gold Fields Limited is the fourth largest gold producer in the world, which annually produces 110 tons of gold in the mines of South Africa, Australia, Ghana and Peru. Gold Fields Ltd has 50 000 employees worldwide. The market value of the company is estimated at 9 billion U.S. dollars.
Talas Copper Gold has four prospecting licenses in Talas oblast: Taldybulak, Barkol, Kentash and Korgontash. Since 2005, TCG has invested more than U.S. $ 20 million in exploration work on these licenses. Major exploration work was carried out on Taldybulak copper-gold-molybdenum deposit.