Altyntau Kokshetau, a prominent gold mining company in Kazakhstan, has announced a strategic shift to underground mining operations at its gold deposit in the Akmolinsk region, effectively extending the mine’s operational life until 2047. This transition marks a significant milestone in the company’s history, which spans over 60 years. The regional akimat reported that underground drilling and blasting works have already commenced, signalling the start of a new phase in resource extraction.
The decision to move to underground mining is not only a technical advancement but also a vital economic strategy for the region. The company has expanded its mining territory by acquiring an additional 1,057 hectares of land, which is essential for developing the necessary underground infrastructure. This transition is expected to bolster the local economy significantly, as Altyntau Kokshetau is one of the major employers in the area, providing jobs for over 1,700 individuals. The mine contributes 17% to the region’s total industrial output and 23% to its manufacturing sector.
The sustainability of the mine is crucial for the social stability of the Akmolinsk region. By maintaining operations at this key enterprise, the company is not only preserving jobs but also providing a long-term planning horizon for the local community. The transition to underground mining is projected to create approximately 600 new jobs and generate over 3 billion tenge in annual tax contributions to the local budget.
In terms of financial investment, Altyntau Kokshetau has committed to investing more than $700 million into the development of the deposit. The planned hybrid approach includes underground mining of three ore zones with an annual capacity of 2 million tonnes, alongside deepening the open pit from its current depth of 540 metres to 680 metres, which will allow for an additional 6 million tonnes of production per year. This comprehensive development strategy underscores the company’s commitment to sustainable mining practices and its role in the regional economy.
