- Write by:
-
Wednesday, October 7, 2020 - 10:04:52 PM
-
547 Visit
-
Print
Mining News Pro - Kaz Minerals has suspended production at its Bozymchak copper and gold mine in Kyrgyzstan, amid post-election unrest in the Central Asian nation.
Unidentified men destroyed facilities at another gold deposit in the former Soviet republic on Tuesday and local media reported attacks and protests at a few more mines, according to Reuters.
The central election commission of the country has declared the results of the weekend’s parliamentary election invalid after mass protests erupted in the capital Bishkek and other cities demanding the resignation of pro-Russian President Sooronbay Jeenbekov.
Opposition supporters had seized government buildings overnight, freed the ex-president Almazbek Atambayev from jail and demanded a new election. Hundreds of people were hurt and one person died.
Bozymchak commenced production in the second half of 2014. In 2019, Kaz mined 1,081 kt of ore and processed 1 Mt at a copper grade of 0.82%, producing 7.3 kt of copper and 41 koz of gold. The mine is currently operating as an open pit with up to 1 Mt of ore extraction per year.
Bozymchak is expected to have an average annual output of 6 kt of copper cathode and 28 koz of gold bar over the life of the mine.
Kaz Minerals said in an email to MINING.com that it is monitoring the situation.
Kaz’s stock was down 1.4% on the LSE as of 4:05PM BST. The company has a $3.18 billion market capitalization.
Centerra Gold (TSX: CG) confirmed that operations at its Kumtor mine will continue uninterrupted despite the political unrest in the Kyrgyz Republic.
The mine is located in a remote mountainous location about 430 km by road to the southeast of the national capital Bishkek. Kumtor is one of the largest gold mines in Central Asia operated by a Western company, having produced more than 12.6 million ounces of gold between 1997 and the end of 2019.
Short Link:
https://www.miningnews.ir/En/News/605906
Europe’s largest copper producer Aurubis AG reported first-half core profit above expectations on Wednesday, helped by ...
Newmont Corp. has no plans to expedite a decision on its $2.5 billion Yanacocha Sulfides project, dashing the Peruvian ...
Copper briefly traded through $10,000 a ton as investors raised bets on Federal Reserve rate cuts, and Goldman Sachs ...
China’s central bank added 60,000 troy ounces of gold to its reserves in April, official data showed on Tuesday, ...
BHP’s plan to divest the South African assets of its target Anglo American are key to the strategy behind the proposed ...
First Quantum Minerals said on Monday it is looking forward to talks with Panama’s new government to find a resolution ...
Gold rose after mixed signals from the US, where optimism is growing the economy is on target for a soft landing as the ...
Executives from Saudi Arabian mining company Manara Minerals are in Islamabad to continue talks about buying a stake in ...
Central Puerto SA, Argentina’s biggest power supplier, is in talks to invest in Canadian miner McEwen Copper Inc.’s Los ...
No comments have been posted yet ...