The Eurasian Development Bank (EDB) financed the acquisition and additional exploration by Altynalmas of the Dolinnoye gold deposit in Karaganda Region, Kazakhstan, for its further development. A loan of US $36.5 million has been provided for seven years.
The project is in the mining and metallurgy sector, one of the Bank’s investment priorities. Advancing the sector is an important objective included in Kazakhstan’s Strategic Development Plan until 2025.
Altynalmas is a major gold producer in Kazakhstan. The company mines several gold deposits, including the Akbakai cluster in Zhambyl Region and the Balkhash cluster in Karaganda Region.
The funds extended by the EDB will help to enhance Altynalmas’s production capacity, as well as stimulate economic development and job creation in the region.
Original source: EDB
Published on 11 June 2018
