Opening Asia for Russia

EDB and Altynalmas successfully implemented 3 investment projects

22.09.2020 180 просмотров

The Eurasian Development Bank (EDB) and AK Altynalmas JSC have successfully passed the next stage of cooperation. 


As part of long-term joint work, 3 investment projects were implemented that contribute to the development of the gold mining industry in the Republic of Kazakhstan, totaling more than 285 million US dollars.

Cooperation between the EDB and AK Altynalmas JSC began in 2011. Then the EDB opened the first credit line to finance the reconstruction and modernization of the Akbakay gold recovery plant, as well as related infrastructure for processing ore from the deposits of the Akbakay cluster. The Bank's investment in the project made it possible to increase the company's ore processing capacity to 1.0 million tons per year.

its development and construction of a gold recovery plant with a capacity of 2.5 million tons of ore per year. In June 2020, the company carried out early commissioning of the Dolinnoye gold recovery plant.

JSC AK Altynalmas is one of the Bank's anchor clients, cooperation with which began at the initial stage of the company's development, on the principles of project financing . Today JSC "AK Altynalmas" is a major gold producer in Kazakhstan. Over the past 10 years, the company has increased its ore processing capacity by more than 20 times, and gold production by more than 15 times. The company aims to further develop and increase gold mining capacity. The current size of the business of JSC "AK Altynalmas" allows to attract financing from commercial banks. We are sincerely glad that the company has achieved high results over the years of cooperation with the EDB, this is a vivid example of the implementation of the Bank's strategic objectives, namely business development in our countries. I do not rule out that new joint projects are ahead of us,” said the Deputy Chairman of the Board of the EDB Amangeldy Isenov.

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