Kazakhstan to have new gold-producing facilities within several years

Business Materials 18 March 2015 17:21 (UTC +04:00)

Baku, Azerbaijan, March 18

By Elena Kosolapova - Trend:

Polymetal International Plc Group, a leading gold and silver mining group, operating in Russia and Kazakhstan, plans to start construction of production facilities in Kyzyl gold field in Kazakhstan in 2016, Novosti-Kazakhstan reported with the reference to the company's head Vitaly Nesis.

The Kyzyl gold project comprises the Bakyrchik and Bolshevik gold deposits and is located in northeastern Kazakhstan. Polymetal acquired the field in Sept. 2014.

"We are planning to start construction of production facilities in the first half of next year after the winter. The start of production is scheduled for the third quarter of 2018, operation at full capacity will be in 2019. The plant will produce about 11-12 metric tons of gold in concentrate per year, " Nesis said at the Minex Central Asia 2015 Forum.

The concentrate from Kyzyl will be most likely supplied to China for processing, he said.

Meanwhile he noted that the company examines the possibility of concentrate processing in Kazakhstan in future.

"We are working on this issue. But the ore from Bakyrchik, and Bolshevik contains a lot of arsenic. Therefore, it is possible that environmental restrictions will hinder the final processing of the concentrate in Kazakhstan. We will do as much as possible in engineering and management to localize the production of gold in Kazakhstan if it is possible," general director of the Polymetal Group said.

Edited by S.I.

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