Kazakh National Bank plans to buy up to 30 tons of gold in 2013
Azerbaijan, Baku, Feb. 27 / Trend E. Kosolapova/
Kazakh National Bank can buy up to 30 tons of gold in 2013, the bank's head Grigory Marchenko told Russian Agency Prime in an interview today.
"This year, we plan to purchase 25 tons of gold. But if 30 tons are produced, we will buy all 30 tons," Marchenko said.
According to the Kazakh laws, the National Bank has the priority right to purchase all the gold extracted in the country. The bank started purchasing gold in 2011.
According to Marchenko, the Kazakh National Bank purchased 22 tons of gold in 2012 and its gold reserves amount to 115 tons.
In late 2013 a new gold refinery will be built in Kazakhstan. The National Bank will also buy the gold extracted by this refinery, the bank's head said.