German company to build gold mining enterprise in Kazakh region

Business Materials 20 April 2019 11:33 (UTC +04:00)

Baku, Azerbaijan, Apr. 20

By Fakhri Vakilov – Trend:

German company Aurum Deutschland AG will build a mining and metallurgical plant in the Kordai district of the Zhambyl region of Kazakhstan, Trend reports referring to Kazakh media.

The large construction project was discussed at a meeting of Zhambyl regional administration with representatives of German business. The idea of ​​the project arose after Nursultan Nazarbayev urged German investors to invest in Kazakhstani projects during his visit to Germany in 2012.

A memorandum on the construction of the mining and metallurgical complex was concluded between the administration of the Zhambyl region and the Aurum Deutschland AG at the Taraz Invest-AgroChemical Day investment forum in Taraz in 2016. The construction of the plant and manufacturing products in the form of a gold-silver alloy Dore was planed to begin in 2019.

It was supposed to introduce a unique system of gold mining in the production using the latest German technology. The company intended to test it on the Kordai gold-bearing deposits, which include other metals apart from gold.

During the meeting with the regional Governor Askar Myrzakhmetov held in Taraz, the Director General of Aurum Deutschland LLP (subsidiary of Aurum Deutschland AG) Yury Fadeyev reported that the preparatory work for the construction of a gold mining enterprise at the Shokpar and Gagarin fields will begin this year in Kordai district.

The site of the future construction site will occupy 160 hectares of land. The planned annual capacity of the plant at the gold deposit is 5,100 tons of gold per year.

Kordai district will receive at least 5,000 new jobs during the construction and 1,000 permanent jobs when the company is commissioned. The main personnel for the future production is planned to be recruited from the residents of the Kordai district. Environmental monitoring will be jointly conducted by Kazakh and German organizations.

Earlier, the German company invested its own funds, within a social partnership, in the construction of sports fields and the repair of roads in the Kordai region.

"Exploration, design work and construction of the plant will be carried out in the next 3-4 years, and the plant itself is scheduled to be commissioned in 2023," the head of the company said.

As Director of the Investor Service Centre, Project Management and Digitalization of the Zhambyl region Damir Yegizbayev said, the project cost is 329 million euros. In his words, the company management requested the head of the Zhambyl region to assist in the construction of infrastructure.

At the meeting, the parties noted that it is planned to build a new reservoir in the territory designated by investors for the construction of the enterprise. Representatives of the German company said that there is a good investment climate in Kazakhstan, which is attractive to foreign investors.

Zhambyl region is rich in natural deposits of phosphorite, fluorspar, uranium, precious and non-ferrous metals, coal and natural gas, salt and barite.

Aurum Deutschland AG is a German mining and resource company focusing on the development and extraction of high-grade gold, copper and polymetallic deposits in the Republic of Kazakhstan under the framework of the German-Kazakh commodity treaty signed in 2012. The company is a German stock corporation that was founded as a project company of Quaesta Capital GmbH in January 2013. Its subsidiary in Kazakhstan has been founded to facilitate the company activities in the country.

Aurum Deutschland has reach experience in investment management as well as in development and management of international mining projects and has extensive international network. The company was granted mining rights for gold and copper deposits in Kazakhstan.

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