Kazakhstan’s Gold Production Reached Record Highs in 2022
The production of raw gold in Kazakhstan has approached 130 tons, of which 73.2 tons of the precious metal have been refined. The Ministry of Industry and Infrastructure Development (MIID) reported this in response to a request from inbusiness.kz through the e–otinish platform.
Tau–Ken Altyn LLP, Kazzinc LLP and Kazakhmys Corporation LLP produced the refined gold, with 55.6 tons coming from Tau–Ken Altyn. The production volume of raw gold (Dore alloy, cathode and slip gold) in 2011 was 36.7 tons, and in 2021 it had increased to 118 tons. The production volume of refined gold in 2021 amounted to 65 tons, which is four times higher than in 2011 (16.6 tons). The National Bank of the Republic of Kazakhstan has accumulated around 400 tons of refined gold since 2011.
The MIID also commented on the temporary ban on the export of Kyrgyzstan‘s gold ore and concentrate since May, which could affect the Bozymchak copper–gold deposit developed by Kaz Minerals. The Bozymchak deposit is part of the KAZ Minerals group and its gold–copper concentrate is processed by Vostoktsvetmet LLP into refined gold, which is then sold to the National Bank of the Republic of Kazakhstan.
The Ministry of Industry and Infrastructure Development concluded that the production of raw gold in Kazakhstan has been steadily increasing in recent years and is expected to continue to increase in the coming years. The production of refined gold from domestic raw materials has also grown significantly, which is an important factor in meeting the needs of the domestic market.