Miryildiz Mining company launches development of the Zhanan deposit in the Abay region. About $20 million has already been invested, and construction of the enrichment plant will begin in June 2026. Total capital expenditure is estimated at $482 million. First gold They plan to receive it at the end of 2027.
The project is technically challenging. The average gold content in ore is about 1 gram per ton. The ore body is of the Carlin type: the metal is finely dispersed, which complicates extraction and increases the cost of processing. The design capacity of the plant will be up to 1 million tons of ore per year with a gradual increase to this level. At the start, production is expected to be about 80 thousand ounces of gold per year, and at full production – more than 1 ton of gold in the Doré alloy.
The economics of the project are based on a long service life – more than 15-16 years, as well as on the potential for additional exploration of neighboring areas. The company currently employs 150 people. During the construction phase, the staff will grow to 450–500 employees, and when commercial production begins, it will reach 1,800 people. Staff localization will be up to 95%.
The key challenge is the more complex ore compared to African projects. However, this is compensated by the low cost of electricity and convenient logistics. Thus, the Zhanan deposit looks like an asset with a medium grade, but stable due to its scale and developed infrastructure.
This is the first for Miryildiz Mining major gold project in Kazakhstan. A successful launch will allow the company to gain a foothold in the region and expand its portfolio.
Source: qazba.kz
Image: Miryildiz Mining
