Kazakhstan-based gold mining company RG Gold has opened a new $420m processing plant to increase its output by four-fold to around 190,000 ounces in 2023.
The new facility is designed to have an annual processing capacity of about five million tonnes of gold-containing ore.
It deploys carbon in pulp (CIP) technology, which enables low-cost gold extraction from low-grade ore, by leveraging coal particles during the leaching process, reported Mining.com.
The company is said to have designed and constructed the new plant, in accordance with all international safety and environmental requirements.
RG Gold is majority owned by Kazakh private equity group Verny Capital, alongside US-based Resource Capital Funds, which holds a 35% stake.
The company operates the RayGorodok deposit in northern Kazakhstan, one of the country’s largest mines with 5.9 million ounces of gold reserves this year.
Verny Capital projects key investor Bulat Utemuratov said: “The launch of the new processing plant is a key milestone for RG Gold. It is underpinned by the highest global industry standards using the latest innovation and technical expertise from Resource Capital Funds, our strategic partner.
“The new plant allows us not only to quadruple RG Gold’s overall output, but importantly, it also provides the opportunity to boost investment in the region.”
Furthermore, the company has recruited additional staff for the construction and maintenance of the new plant, bringing its total workforce to about 1,200, reported Mining Weekly.
Resource Capital Funds partner Martin Valdes said: “We invested in RG Gold in 2018. It was the first time that we invested in Kazakhstan as a firm, and from the very beginning of the due diligence process.
“We were impressed with the quality of the people, the quality of the institutions, and the commitment from everyone to do mining in a very environmentally friendly way and with the best interest of all stakeholders in front of everything else, especially for the local communities.”
