RG GOLD
RG Gold is busy developing its new CIP Plant project and maximising its existing operation in Kazakhstan
RG Gold , the Kazakh gold mining and production company , operates one of the largest deposits of gold in Kazakhstan and is the third largest in terms of gold resources . The deposit is in the Burabay area of Akmola region , covering an area of 67.7 sq . km that consists of two pits : North and South .
RG Processing , set up in October 2018 , was created to facilitate the engineering and design of the project for the construction of a carbon-in-pulp ( CIP ) plant , that is expected to start processing 5 Mtpa of sulfide ore from Q3 2022 . The KZT180 billion project includes building all necessary infrastructure objects such as tailings facility , new camp , water supply facilities and a new HV powerline .
Both companies ’ shareholders – Kazakh private equity group Verny Capital and American group of private equity funds under common management Resource Capital Funds ( RCF ) – are actively involved into companies ’ strategic and operational management .
Rossouw ’ s attention is now firmly fixed on the getting the new mine up and running . It is targeting 5 tonnes of gold per year , with 170 tonnes in resources and 99 tonnes in reserve .
The total construction cost is $ 425 million . Development Bank of Kazakhstan JSC ( a subsidiary of Baiterek Holding ) provided a loan in the amount of up to US $ 300 million for nine years and the remainder will be provided by RG Processing at its own expense . sustainabilitymag . com 177