Kazakhstan to boost gold production by 75% in 2011.

By bne IntelliNews May 31, 2010
Kazakhstan may boost gold production by up to 75% in 2011, Kazakh president Nursultan Nazarbayev has said. The statement was made after a Kazzinc launched USD 700mn processing plant at the Vasilkovska mining complex in the northern Kazakhstan. The gold was mined for 30 years at this deposit. At full capacity the plant will produce 15 tonnes of gold per year while total country's production presently makes up 20 tonnes. Kazakh president noted that with a production level of 35 tonnes of gold per year, Kazakhstan would break into the top 15 gold miners in the world. Kazakhstan's gold deposit amounts to around 4% of the world's reserves.

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