Construction of the Chaarat gold mining enterprise has started in the Jalal Abad region of Kyrgyzstan; the total planned investment in the project is estimated at $556 million.
The project is being implemented by Chaarat ZAAV, a joint venture between Canada’s Silvercorp Metals (70 %) and the state owned Kyrgyzaltyn (30 %). According to Silvercorp Metals’ calculations, once it reaches its design capacity, the enterprise will be able to produce about 3.1–3.4 tons of gold annually. The start of commercial production is scheduled for 2027–2028.
In the second stage, it is planned to build a processing complex with a capacity of 3–4 million tons of ore per year. Production is scheduled to start in 2021.
After both projects are implemented, it is expected that about 600 jobs will be created, according to the online portal dprom.
Alex Shishlo, Editor in Chief of the European Bureau, Rough&Polished
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