Kazakhstan to extend ban on gold export
Baku, Azerbaijan, Jan. 27
By Elena Kosolapova - Trend:
The current ban on the export of gold ores from Kazakhstan will be extended until the end of 2015, Novosti-Kazakhstan reported.
The decision was announced by Kazakh Deputy Minister for Investment and Development Albert Rau in Majilis (Parliament's lower chamber).
"The ban is extended each time for six months. Now we extend it until summer, and then it will be extended until winter," Rau said.
Kazakh Government imposed temporary ban on export of gold and other precious metals in June 2014. However it is allowed to export gold ores to Russia because the processing capacities of some gold producing companies working in Kazakhstan are located there.
Vice-Minister explained that Kazakhstan produces about 50 metric tons of gold per year.
Kazzinc company processes over 20 metric tons of this amount per year, gold refining plant in Astana process about 10 metric tons/year. Some amount of gold ore is processed by Kazakhmys, and remaining ore is exported to Russia.
Edited by S.I.
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