West-Khazret Project

  • In the first year the amount of investments is 128,362 thousand USD, including – CAPEX 47,044 thousand USD, OPEX 81,318 thousand USD.
  • Project NPV 176,231 thousand USD.
  • IRR, 69%.
  • Payback period, years 3.
  • Discounted payback period, years 3.
  • Products

Annual capacity:

74 thousand ounces of gold in doré bars.
2 million tons of gold ore.


The project provides for the construction of a gold recovery plant (GIF) on the West-Khazretskaya area (location – Kostanay region, Zhitikarinsky district). During the development of deposits, it is planned to use an open method for the extraction of gold ore, which is then subject to processing at the refinery.


The initiator is Atygay Gold Mining LLP. The company received 6 gold mining licenses for a period of 25 years under the exclusive right. The total area of 6 licenses was 33 km2. The company is exempted from MET payment for 5 years.

The attractiveness of the project

The right to mine gold-bearing ore in 12 explored areas of the West Khazret area. The distance between the areas is from 0.5 to 10 km.
Stocks. The total reserves + resources in the West Khazret area exceed 50 tons of gold.
The ores of the West-Khazretskaya area are poor sulfide with the only useful component in the form of gold. Gold is in a free state. The extraction of gold into Doré alloy from oxidized ores was 94%, from primary 89%.

Investment proposal

The project requires funding in the amount of USD 128,362 thousand.