The depth of the quarry at the Muruntau gold mine has reached 650 meters. The next stage will see the depth exceeding 1 thousand meters and yielding over 50 million tons of ore per year. This is the largest gold deposit with the reserves estimated at more than 4.5 thousand tons. At present the quarry…
The Asian Development Bank forecasts gold export growth in 2024-2025, ADB experts have said during the presentation of the Asian Development Review in Bishkek. According to them, the current account deficit is expected to narrow in 2024-2025, as gold exports increase and imports slow due to lower domestic demand and re-exports. (Kazinform)
Foreign Minister of Kyrgyzstan Jeenbek Kulubaev visited the Malaysian company Public Gold, which sold and manufactured gold and silver products on an industrial scale. The parties discussed with the leadership of Public Gold the establishment of cooperation with Kyrgyz companies on the creation of joint ventures in the Kyrgyz Republic for the production of gold…
RG Gold, developing the Raigorodok deposit in Akmola region, could suspend gold extraction using heap leaching this year. “Because of the thinning of oxidized ore we, most likely, will have to suspend operation and mothball heap leaching manufacture,” the financial director Marat Shaimardanov has said. RG Gold is using two types of processing capacities with…
Romania would not have to pay any compensation to the Canadian mining company Gabriel Resources for stopping the gold mining project at Rosia Montana, the International Center for Settlement of Investment Disputes in Washington (ICSID) decided on March 8. Romania’s Government issued a statement confirming the outcome of the case on March 9. The verdict,…
The World Bank International Centre for Settlement of Investment Disputes (ICSID) has informed Romania and Gabriel Resources that it expects to render its Award on the litigation related to the Rosia Montana gold mining project on March 8. Romania’s finance minister, Marcel Bolos, admitted that the ruling, if monetary, would certainly impact the budget deficit…
As of February 20, the Romanian authorities were not informed about the ruling expected from the World Bank’s ICSID arbitration court on the Rosia Montana gold mining project dispute with Gabriel Resources, according to a response issued by the executive. The updated value of the compensations claimed by the investor is $6.7 billion, the executive…
Kyrgyzstan exported 20.2 tons of gold in 2023, up 69-fold YoY. According to the State Statistical Committee of Kyrgyzstan, the export value amounted to $1.284 billion, up 14-fold. During this period, Kyrgyzstan exported gold to the following countries: Switzerland – 17.065 tons ($1.088 billion), China’s Hong Kong – 1.847 tons ($115 million), UAE – 1.294…