Shugyla Gold LLP is set to begin gold extraction at the Akdingek deposit in the Zharminsky district of the Abai region, with production slated to start in 2027. The company plans to extract 100,000 tonnes of gold-bearing ore annually, utilising open-pit mining techniques and employing blasting operations. The mine is expected to operate for five years, from 2027 to 2031, with a daily production capacity of 137 tonnes.
The geological structure of the Akdingek deposit allows for open-pit mining to a depth of 40 metres. While the specific gold content in the ore has not been disclosed, the project documentation indicates that mining operations will be conducted in shifts, with a continuous work schedule throughout the year. The site will be powered by a diesel-electric station.
In January 2025, Shugyla Gold announced plans to extract placer gold from the valleys of the Büyük and Colorado rivers, also located in the Zharminsky district. This area is part of the Boko-Vasilyevsky ore field, with confirmed reserves estimated at 905,100 cubic metres of ore, containing 202.4 tonnes of pure gold at an average concentration of 0.224 grams per cubic metre.
The company aims to mine 392,700 cubic metres of ore from this site between 2026 and 2028. However, financial reports for 2024 indicate that Shugyla Gold incurred a loss of 4.8 billion tenge, a significant increase from a loss of 200.1 million tenge in 2023. Despite these losses, the company reported its first revenue of 281.1 million tenge in 2024, marking a shift from its previous focus solely on mineral exploration.
Shugyla Gold is owned by Shugyla Kent LLP, both of which are registered at the same address in the Akzhal village of the Zharminsky district. Shugyla Kent also owns KST Production, based in Ust-Kamenogorsk, which is managed by Tazlime Sarsebaeva and Abzal Nuriyev.
