On August 8, 2023, the company "Kumtor Operating Company" received a license for the development of the Togolok deposit. Following this, with the financial support of CJSC "Kumtor Gold Company," active geological studies were resumed to confirm the reserves.
During the geological work, drilling operations were conducted at 40 sites of the deposit, with a total length of 9.5 kilometers. Approximately 11,000 samples were collected, including 608 trench samples weighing 8 tons from the old adit. These samples have been sent for in-depth analysis in the laboratory.
Among the main challenges faced in the development of any deposit, including Togolok, is the lack of infrastructure. Currently, preparatory work is underway to lay 35 kilometers of power lines from the village of Ak-Shiyrak.
A substation with a capacity of 10 MW is planned to be built at the Sary-Bel site. A project for a technical road from the village of Uch-Koshkon to the deposit has also been developed, and a new bridge over the Kaychi River is currently under construction. Geologists have received modern modular homes and specialized mining equipment for their work.
A gold extraction plant capable of processing 500,000 tons of ore per year will be built at the Sary-Bel site. Full-scale mining operations at the Togolok deposit are set to begin in 2026, with the first ore expected to be extracted in the same year, and the first dore alloy to be smelted in 2027.
Simultaneously, drilling is being conducted in the promising area of Jangart, with a total length of over 16,000 meters. The development of the Togolok deposit, which is planned for 16 years, will be carried out in two phases.
As part of the project, it is planned to extract more than 16 tons of gold. In the first phase, which will last 7–8 years, open-pit mining of 6 tons of gold is anticipated. The second phase will include underground mining of more than 10 tons of the precious metal.
The revenue from the development of the Togolok deposit could amount to between 2 to 2.3 billion US dollars, with net profit expected to be in the range of 600–700 million US dollars.
The total capital investment over the entire operational period will amount to 170–200 million US dollars. Additionally, approximately 650–700 million US dollars will be paid to the republican budget in the form of taxes.
All financial indicators are forecasted and based on current market prices for gold. As a result of the project implementation, 600 new jobs will be created.
