The «Construction of the refinery» investment project will be implemented in Astana at the industrial park in the «New City Astana» special economic zone.
In an interview with Interfax Kazakhstan, the head of the national operator of mining assets Tau-Ken Samruk, Mazhit Turmagambetov said that the construction of a new refinery equal to 4.5 billion tenge will begin in June 2012 in Astana. The design capacity of the enterprise will be 25 tonnes of gold and 50 tonnes of silver per year. The project cost of the refinery is 4.5 billion tenge. Samruk Kazyna will act as the source of financing.
This signals the preparation of a steady long run signficant expansion of gold and silver production in the country which will stand to benefit the precious metal mining interests throughout the region.