Where does gold come from in Kazakhstan’s gold and forex exchange reserves?

Anuar Shalkarbekov, acting CEO of RG Gold, spoke with Tengrinews reporters about the role of gold mining industry in Kazakhstan’s economy and a large-scale project on the construction of a gold extraction plant, implemented by the company.

“All gold extracted by RG Gold is used for replenishment of national gold and forex exchange reserves, thereby ensuring the stability of the national currency and country ranking,” - says Shalkarbekov.

RG Gold is currently implementing a project on the construction of the gold extraction plant in Burabay area of Akmola region. There are similar plants operating in South Africa, Australia, and Canada. According to Shalkarbekov, the use of the latest technologies and modern construction materials, as well as the strict compliance with safety requirements will allow to minimize the environmental impact of the project. RG Gold regularly holds public hearings with participation of residents of neighboring towns and environmental activists. The next public hearing on the construction of the tailing storage facilty will be held on September 11, 2020.

The construction of the gold extraction plant is expected to be completed and put into operation in the 3rd quarter of 2022. The total amount of investments will make more than KZT 100 billion. More than 1,000 Kazakh people will be provided with permanent jobs, and annual tax deductions to the state budget will amount to more than KZT 20 billion.

“The estimated duration of our project is 20 years, until 2040. During this period, we need to extract the orebody. Two open pits will be left after the completion of the project. According to the international practice, these open pits are usually flooded, forming natural pools. Tailing storage facility will be covered with top soil, which will be grassed over naturally, forming a hill. There will be neither dust nor dirt or any other waste left on the site” - says Shalkarbekov.

Please follow the link, to find out more – Tengrinews.kz