Placer gold mining to be launched in Northern Kazakhstan in 2014

Business Materials 21 November 2013 11:42 (UTC +04:00)

Baku, Azerbaijan, Nov. 21
By Elena Kosolapova - Trend: Yesil district of North Kazakhstan region will launch alluvial gold mining in 2014, Novosti-Kazakhstan reported today.

Such plans were announced by Yesil district's head Muratbek Abishev at a briefing on November 20.

Abishev said that Geobayt - Info and Dobicha companies plan to mine alluvial gold in the area Aulie in the village of Bulak.

"Initial exploration showed that recoverable reserves of gold sand hit 2,088 kilograms in physical weight. But today's extraction technology does not allow to make large profit, so it was recommended to explore if the sands contain titanium- intelligence components," Abishev said.

He also noted that the work has already started and drilling rig has been installed.

"If everything goes according to the plan, the gold production will start in 2014. The estimated cost of the project is $7 million," the regional head said.