Kazakhstan starts development of new gold deposit

"Construction of the mining and metallurgical plant and the necessary infrastructure will start by the end of 2014. In 2015, the company will reach its full production capacity. The production volumes will reach 130,000 tonnes of ore in 2014 to 600,000 tonnes in 2018," the administration said.

Earlier geologists discovered gold in an area of 400 hectares near the village of Bulak of the Esil district. The precious metal reserves in the deposit reach three tonnes, according to preliminary data.

Gold mining will be carried out by Aulie Gold Mining which is a project company of Russian Mining Solutions. The project was included in the Industrialization Map of North Kazakhstan region, Kazinform refers to trend.az.

The project is designed for a period until 2021 with the possible extension of its implementation. The project is worth $15 million. Further exploration works will continue at the site.