The Kazzinc company is actively increasing its gold mining and production. At the end of 2023, the Kazakh enterprise produced about 35 tons (1.124 million ounces) of the precious metal. This information is reported by i nbusiness.kz , citing data from the company’s key shareholder, trader Glencore.
In 2023, Kazzinc produced 18.6 tons (598 thousand ounces) of gold from raw materials mined at its deposits, which is 1.6 tons (52 thousand ounces) more than in 2022. This is due to the fact that the year before last, to fulfill the plan, they purchased raw materials from other companies, and processed a significant part of their volumes already in 2023. If we take into account foreign raw materials, production growth was 23% – almost 35 tons of precious metal versus 28.4 tons in 2022.
This rapid pace of work is partly due to the depletion of what was once the country’s largest deposit. Let us remind you : the main reserves of Vasilkovsky have already been used up, so by 2026 production will be curtailed. Until then, ore will be mined primarily in open-pit mines. Following the closure of the mine, Kazzinc is likely to significantly reduce gold production.
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