Kazakhs Pledge to Operate Gold Mine in 2 Months
Economy, Business And Markets

Kazakhs Pledge to Operate Gold Mine in 2 Months

Executive manager of the Kazakh company in charge of developing the Sari Gunay Gold Mine in the western province of Kurdistan, Moris Satiashvili says the project has achieved 85% physical progress and that the mine will start operation by June.
The announcement was made following a two-day visit by the head of the Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO), Mehdi Karbasian to Kazakhstan last week to discuss the mining contracts, Eghtesadnews reported.
According to the Kazakh official, as much as $48 million has so far been invested in the project, with an additional $15 million required for completing the project.
Once completed, the mine will have the capacity to extract more than 950,000 metric tons of high-grade ore during the first year of operation. The mine’s capacity will be increased to 2 million tons in the second year of operation and exceeds 4 million tons from the fifth year, according to Satiashvili.
The gold mine, located 90 kilometers east of Sanandaj, was supposed to start operation in September 2013. The deadline was further extended until October 2014 but the Kazakh company once again missed the deadline.
Mining experts believe that if the mineral exploration, extraction, and processing in Sari Gunay had been completed as per schedule, the mine could now be producing more gold than Zarshooran gold mine in the northwestern province of West Azerbaijan; the current production of which stands at about 3 tons per year.  
Satiashvili gave assurance that environmental issues have been taken into consideration in the construction of Sari Gunay mine, in accordance with the internationally standards.

Short URL : http://goo.gl/C3R6Xx

You can also read ...

Relations with banks from China, the UAE and Turkey had recently hit snags.
A senior Iranian official announced that there are no...
Gov’t Sends AML/CFT Amendments to Majlis
President Hassan Rouhani has presented two bills for making...
Undue Expectations From Gov’t
Trade Promotion Organization of Iran, affiliated with the...
Gold Coin  Hits Record
Gold coin prices recorded multiple rallies in the past month...
Forex ETS to Expedite Rate Unification
The Central Bank of Iran’s Exports Department has sought to...
Kerman Motor assembled 4,217 Hyundai cars during the first seven months of the current fiscal that ends in March 2018.
Local automaker Kerman Motor is trying to shift focus from its...
Iran signed a $650-million contract with the world’s largest shipbuilding company Hyundai Heavy Industries Company in December for the South Korean firm to build four 14,400 TEU container ships and six 50,000 DWT product tankers.
South Korea was Iran's fourth biggest export destination (...
Expansion of Modern Irrigation Systems
Modern irrigation systems have been installed over nearly 85,...