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EastRussia Bulletin: Klyuchevskoye gold deposit development project became Indo-Chinese - EastRussia | Far East

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EastRussia Bulletin: The Klyuchevskoye gold deposit development project became Indo-Chinese

EastRussia Bulletin: The Klyuchevskoye gold deposit development project became Indo-Chinese
Photo: EastRussia
In the Trans-Baikal Territory, a development project is being developed for the Klyuchevskoye gold deposit (Mogochinsky district). The Russian government has approved an agreement with the government of China on cooperation in this project, the latest issue of the EastRussia bulletin says.

Zapadnaya-Klyuchi Mine CJSC, which is a subsidiary of the Indian investment company SUN Gold Ltd., will act as the operator of the project. The project is expected to be implemented within two years. China National China National Gold Corporation plans to attract investment of $ 500 million.

Klyuchevsky provides for the use of highly efficient heap leaching technology, which will allow extracting about 6 t gold per year from the ore. The estimated volume of ore extraction is more than 12 million tons per year. As a result of the project, gold production in the Trans-Baikal region is expected to grow by 40%, as well as an increase in GRP of the region by 65,8 billion rubles. In addition, additional tax revenue of 5,5 billion rubles is expected. a year before 2026 year.

The Far East Development Fund (FRDF, VEB structure) signed an agreement with the companies from Brazil, Russia, India, China and South Africa on the development of the Klyuchevskoye field in 2016. The international consortium includes China National Gold Corporation (China), SUN Gold Ltd (India), TransAfrica Capital Ltd (South Africa) and the investment fund Antonio de Moraes (Brazil). The target share of participation of the FRGF will be up to 15%. Although the project was positioned as the only common for all BRICS countries, at present there is no information on the participation of South Africa and Brazil.

A detailed analysis of this and other relevant topics can be found in the weekly bulletin EastRussia (https://www.eastrussia.ru/subscribe/).