The company forecasts that capital investments in the project will amount to between $170 million and $200 million.
As a result of the company's activities, approximately $650-700 million will be directed to the republican budget in the form of taxes.
"These financial estimates are projections based on current market prices for gold. The implementation of the project is expected to create 600 new jobs," added representatives of CJSC.
The license for the development of the Togolok deposit was obtained by the company in August 2023, after which geological studies were intensified to confirm the reserves. These studies are being conducted with financial support from CJSC "Kumtor Gold Company."
Currently, preparatory work is underway to lay 35 kilometers of power lines from the village of Ak-Shiyrak. Additionally, a 10-megawatt substation and a gold extraction plant with a capacity of 500,000 tons of ore per year are planned to be built in the Sary-Bel area.
Furthermore, a technical road project from the village of Uch-Koshkon to the deposit is being developed, and a new bridge over the Kaychi River is also under construction.
This year, large-scale mining operations will begin at Togolok, with the first ore expected in 2026, while the first dore bar is planned to be smelted in 2027.
The project for the development of the deposit is designed for 16 years and will be implemented in two phases, during which more than 16 tons of gold are planned to be extracted:
- the first phase — 6 tons of gold through open-pit mining over seven to eight years;
- the second phase — more than 10 tons of gold through underground mining.
