Kazakh companies plan to purchase raw materials for gold production from abroad

Azerbaijan, Baku, Nov. 27 / Trend E. Kosolapova/

Kazakh Kazzinc company and Kazakhmys corporation consider possibility of raw material purchasing from abroad to increase gold production, Kazakh Industry and New Technologies Ministry told Trend.

Moreover, according to the Ministry, the strategy envisaging further modernization and construction of new facilities with investments attraction is being implemented in Kazakhstan's gold mining industry.

"Today six new [gold mining] plants are being built and four plants are being upgraded in Kazakhstan," the Ministry said.

Thus, according to the Ministry, there is a real prospect of gold extraction increase to 70 tones per year by 2015 in Kazakhstan, following launching of the new production facilities.

Moreover, Kazakhstan plans to increase gold refining in the near future, the Ministry said. In particular Tau-Ken Altyn company plans to launch new gold refinery in Astana at the end of 2013. As it was said earlier, the plant's capacity will reach 25 tons of refined gold and 50 tons of silver per year. Moreover Kazzinc company installs additional plants at its refining workshop which will allow to increase refined metals output.

Meanwhile, according to the presidential decree No 120 from July 21, 2011 the National Bank of Kazakhstan has the priority right to purchase refined gold bullions to replenish its gold reserves, the Ministry said.

"So the National Bank has developed and approved the rules regulating implementing of the state's priority right on refined gold bullions purchasing and now signs contracts on refined gold purchasing," the Ministry said.

In 2011, Kazakhstan produced 36.670 tons of raw gold or 21.1 percent more compared to 2010.