DUSHANBE, January 25, 2010, Asia-Plus  -- Tajikistan’s gold and foreign currency reserves rose 77 percent in the year to December 31, 2009, reaching 351.4 million U.S. dollars, Shari Rahimzoda, head of the National Bank of Tajikistan (NBT), announced at a news conference in Dushanbe on January 25.

According to him, the country’s central bank purchased more than 500 kilograms of gold during the past year.  “Besides, 58 kilograms of gold have been purchased over the first month of this year,” Rahimzoda said, noting that the country’s gold reserves now amount to 4,300 tons.

He added that NBT would continue to purchase gold in the future as well.  “Some local gold mining companies were under modernization last year, and therefore, we could not purchase enough gold,” said the central bank head, “We have invested in these companies to help them purchase new equipment in order to increase gold production.  For example, Tajik-Chinese joint gold mining venture, Zarafshon, which was under modernization practically the whole last year, is beginning to operate adequately.”

According to the Ministry of Energy and Industries, Tajikistan’s gold production fell by 18.62 percent to 1,361 kilograms last year when compared to the 1,672 kilograms produced in 2008.