According to the most recent USGS publication, Kazakhstan and Uzbekistan were the 6th and 10th largest gold-producing countries in the world in 2023, producing 130 and 100 tonnes per annum (“tpa”) respectively¹. SRK has worked with most of the large gold producers in Kazakhstan, Kyrgyzstan and Uzbekistan. The map above shows all notable operating gold mines in the region, many of which are porphyry copper mines and orogenic gold vein systems.
AGMK is one of the largest industrial enterprises in Uzbekistan, operating for more than 70 years. During this time, the enterprise has not only become the country’s leader in copper production and a flagship of the Uzbekistan mining industry but has also become strategically important for the country’s economy.
In 2021, SRK collaborated with AGMK to estimate mineral resources and ore reserves for copper and gold projects in Central Asia, following the JORC Code. This included a feasibility study for the Kalmakyr and Yoshlik I deposits, which together form the Oliy Ziyo deposit. SRK also conducted resource and reserve estimates for AGMK’s underground gold mines, in accordance with the JORC Code.
Altynalmas owns over 15 orogenic gold deposits throughout Kazakhstan at various stages of development; the mines collectively produce 16 tpa of gold. For several years, SRK has assisted in the transformation of datasets, geological models, geotechnical studies and mine plans and prepared the first estimates and technical reports in accordance with the JORC and KAZRC reporting codes.
AltynEx owns the Yubileinoye gold mine in Kazakhstan. In 2022, SRK authored a feasibility study for the mine, the concept being to expand production to achieve 5 tpa through transforming the mine from underground to open pit mining.
Kumtor in Kyrgyzstan is one of the highest altitude mines in the world; it has produced some 15 tpa gold for the last 25 years, contributing over 10% of the country’s GDP. SRK has supported the operation through studies on structural geology and waste dump design.
NGMK in western Uzbekistan is the fourth-largest gold mining company in the world. Its assets include Muruntau, which produces 50 tpa gold from the largest open-pit gold mine in the world. SRK has undertaken a number of technical studies for NGMK, assisting in the preparation of Mineral Resources and Ore Reserves in accordance with the JORC Code, the evaluation of slope stability and the development of strategic options. SRK has also been assisting NGMK with its journey towards alignment with international standards for responsible mining.
Source:
1. NASDAQ (10 Largest Producers of Gold by Country)- accessed on 16 April 2024.
