Eurasian Development Bank to provide $100 mln for gold mining project in Kazakhstan
The gold production investment project of JSC "Altynalmas" will be financed by the Eurasian Development Bank, the Bank's press service said, CA-News reported.
The credit agreement was signed at the end of September 2011, and the most of the sum for project is already provided. The whole sum of the project totaled around $150 mln. EDB will extend $100 million loan.
Mining and metallurgical complex able to extract and process around 1.4 million tons of gold ore annually will be established with help of EDB investments. The final product of the enterprise will be Dore alloy (alloy of gold and silver).
The project is realized in Jambyl region on the territory of Akbakayskiy ore field, one of the largest gold ore regions of Kazakhstan. The full volume of combine processing power to be founded in the current year is awaited, and the modern mining complex in the next year, Bnews.kz reports.
The investment project is realized according to the accelerated industrial and innovation development
state program of Kazakhstan and the mining and metallurgical industry development program 2010-2014.
EDB is the international financial organization established by Russia and Kazakhstan in 2006. The charter capital of the Bank exceeds $1.5 bln. Russia, Kazakhstan, Belarus, Tajikistan, Armenia, Kyrgyzstan are member states of the Bank.