China Nonferrous Gold Limited, the mineral exploration and mining company currently mining the Pakrut Gold Project in Tajikistan, intends to produce 207 kilograms of gold this year. In the future, China Nonferrous Gold Limited (CNG) plans to increase annual gold production to 1,000-1,500 kilograms.
Tajikistan’s lower house (Majlisi Namoyandagon) of parliament yesterday endorsed the law on ratification of an investment agreement between the Government of Tajikistan, China Nonferrous Gold Limited and Pakrut LLC on development of the Pakrut gold deposit that was signed in April 2017.
Speaking at the session, Mr. Lixian Yu, Managing Director of China Nonferrous Gold Limited, noted that they will begin producing gold at the Pakrut deposit in July this year.
Recall, the first gold ingots were poured at the Pakrut Gold Project on December 29, 2015.
Pakrut gold mine, located approximately 120 kilometers north-east of Dushanbe, is owned by China Nonferrous Gold (formerly known as Kryso Resources). The mine development is being undertaken in two phases, which are expected to cost $250 million in total.
China Nonferrous Gold Limited (CNG) (formerly Kryso Resources Corporation Limited) is a London Stock Exchange AIM-listed mineral exploration and development company, focused on projects in Tajikistan.
The mining license for the Pakrut Gold Project was issued in January 2012 and is valid until November 2030. Construction of the mine began in September 2012.
According to the Mining Technology site, the mine is estimated to process 660,000t of ore per annum initially and 1.32 million tons per annum from 2017.
The JORC-compliant resources of Pakrut gold mine are estimated at 4.72 million ounces of gold at a cut-off grade of 0.5g/t.
The mine is expected to extract 2,000t of ore per day and approximately 9.8 million tons over its estimated 19-year life.
The reserves of the Pakrut project under the Russian classification system, which total 1,257,454oz Au at a cutoff grade of 0.5g/t, were approved by Tajikistan’s State Committee for Reserves on December 15, 2008.
China Nonferrous Gold Limited is the first foreign company to obtain 100% ownership of a mining and exploration project in Tajikistan.
