British Kryso Resources Plc. is planning to launch exploration of ‘Pakrut’ goldfield located in Vakhdat region of Tajikistan at the end of this year.
In his interview to AP Abuali Ismatov said that the company was awarded license for exploration of ‘Pakrut’ goldfield in January 2012. The license expires in November 2030.
He said in 2007 ‘Pakrut’ Ltd asserted its rights to 28.1 tons of gold reserves with the Tajik State Committee for Reserves.
“The volume we asserted is accurate while production reserves of the goldfield have increased since then and now exceed 100 tons of gold but we did not asserted these yet. Potential gold reserves make 118 tons but the figure may possible increase in the future,” he explained.
The company is planning to extract 2 tons of gold a year within the next 4 years. “The goldfield is very promising,” he said. “I think our company will become one of the best gold mining companies.”
Head of the company’s office in Tajikistan says the capital required for the company’s development will make $108mln. “In case if the price for gold remains at the level of $1.250 per ounce, payback period will make 2.7 years,” he said.
Chief geologist of Pakrut Ltd Mirahmad Umarov said that the goldfield is considered to be promising since concentration of gold in one ton of ore makes 4.43 grams. According to global standards, goldfields are considered promising if concentration of gold in one ton of ore make 0.8 grams.
“We have already started to widen the roads, build 110 kilovolt power line. We are planning to build a gold mining factory which will be able to process 600.000 tons of ore per annum. We also plan to build a refinery since we plan to produce the final product in the form of gold bars,” he said.
Umarov also said that since 2004 the British Kryso invested more than $20mln for exploration and geology works in this area. “During the Soviet times geologists claimed that this goldfield contains only 9 tons of gold and refused to carry out additional exploration works here,” he said.
Shares of the sides remain unclear. The company said this issue is expected to be discussed in the future. However, the British Kryso funds 100% of exploration works involving Tajik experts.
A total of 1 tons 240.1kg of gold were extracted in Tajikistan in 2011. This is 134.8kg more as compared to 2010.
