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Focused on natural resource opportunities in central asia
Kazakhmys
 
Gold Division

In July 2007 the Group acquired Eurasia Gold, now Kazakhmys Gold.  The Division has three operational mines, at Mizek, Central Mukur and Zhaima.  In 2007 the total output of these assets was 52 ktroz.  The Division produces gold in the form of gold cathode to sediment, on annual contract.  The heap leaching process via the heap leaching process.

There are three major growth projects within the division, Mizek Sulphide and Bozymchak and Akjilga. The total measured and indicated gold resources, on a JORC basis is 2.3 Moz.

Mizek Sulphide

At the Mizek site in north east Kazakhstan, approximately 340 km southwest of Semey, there is a large sulphide ore body which is the subject of a pre-feasibility study, that is expected to be completed in H1 2008, with planned extraction in 2010.

At present, Kazakhmys Gold are carrying out open pit mining on the oxide ore body located at the site.

To exploit the sulphide ore, a new open pit and underground mine will be required together with a concentrator to process the ore on-site. Upgrades are planned for the power and water infrastructure.

Bozymchak

The pre-feasibility study on the Bozymchak deposit in southwestern Kyrgyzstan has been in progress during 2007 and is nearing completion. Kazakhmys Gold was able to successfully extend the license to develop the Central Part of the deposit in December 2007, from September 2008 to December 2027.

The site is approximately 185 km from the nearest rail link and has good water access. In 2008, the infrastructure will be developed including improving the road links and installing power lines. Alongside this, the feasibility study will be carried out with production planned for 2010. The exploration work will continue in 2008 focusing on both the main ore body below an existing audit and conducting further drilling across the site.

Akjilga

Eurasia Gold carried out further exploration work on the Akjilga silver-rich deposit in Tajikistan in 2007. Scoping study will commence in H2 2008. Kazakhmys Gold will also conduct exploration work at a number of other sites.