Following a joint venture agreement between Dingman Industries (ASE) and Soviet mining giant Glavalmazzoloto, Dingman will become one of the first Canadian mining companies to enter into the Soviet gold processing business. As part of the agreement, Dingman is expected to come up with a plan to process concentrates from several arsenic-rich gold mines in the Republic of Kazakhstan, where Glavalmazzoloto has been stockpiling concentrates for about two years (T.N.M., July 2/90). Since 1988, because of a nationwide ban, the Soviet company has been unable to process the arsenic- rich concentrate at its smelters.
Dingman is toying with the idea of building an autoclave to treat the concentrates, which contain about 8% arsenic on average. In the meantime, the Toronto-based junior will probably send the concentrates to Western Europe for processing.
The deal will also allow Dingman to act as agent for Glavalmazzoloto’s North American marketing arm, Tordiam Inc., whereby Dingman will be paid to buy equipment for the Soviet mining industry. Marketing semi-precious stones from the Soviet Union’s largest diamond mine will also fall under Dingman’s jurisdiction.
Be the first to comment on "Dingman signs Soviet joint venture deal"