Kazakhstan Implements Unique Technology Of Gold Mining

Nordgold Agrees $325 million 7-Year Debt Facility

Kazakhstan has become a very popular country for international firms to invest in as the benefits the country offers, particularly cash back on profits, made investments in the region all the more enticing. The efforts to mine gold in the country have also become more interesting in recent time.

The National Agency for Technological Development allocated a grant to a domestic enterprise for development of unique technology for extraction of gold and rare earth metals.

The “Les” LLP received a grant of 21,5 million tenge from the affiliated holding organization for development of industrial superhigh-frequency technology for extraction of persistent gold, rare metals and rare earth metals in the high-saturated power field from mineral and technogenic raw materials.

Classical technology of production of gold concentrates, rare metals and rare earth metals, besides others, includes such energy-intensive stages as multi-stage crushing of ore and drying of concentrates in convection electric furnaces.

In case of extraction of gold additional expenses are connected with need of ore softening. Duration and cost of such a technology does not allow enterprises to increase considerably production capacities,” managing director of the JSC “NATD” Olzhas Altayev said.

Expenses of energy decrease several times at using new technology developed by the “Les” LLP. Percentage of extraction of gold from ore also increases considerably. New development does not need fuel, there are no emissions to the atmosphere”.

According to opinion of experts, this technology is unique, and the existing analogs concede in productivity and are more expensive and bulky.

The Aksu, Zholymbek and Bestyube mines are among the best mines to look into when finding gold in Kazakhstan. These are all operated by the Kazakhaltyn Mining Concern. Each of these mines has about 600 tons of gold to mine according to the most recent estimates.

The Suzdal mine, which is owned by Celtic Resources Holdings, has been getting more than 30,000 ounces of gold on an annual basis in recent time. Celtic is expected to triple its efforts within the country to acquire more gold and to get it out as quickly as possible.

Gold Reserves in Kazakhstan increased to 238.17 Tonnes in the second quarter of 2016 from 228.34 Tonnes in the first quarter of 2016. Gold Reserves in Kazakhstan averaged 90.19 Tonnes from 2000 until 2016, reaching an all time high of 238.17 Tonnes in the second quarter of 2016 and a record low of 52.68 Tonnes in the first quarter of 2003. Gold Reserves in Kazakhstan is reported by the World Gold Council.