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Tuesday, July 17, 2018

Kyrgyzstan gold field development selection enters secon phase

Three entities bidding for development rights to the Dzherui goldfield in Kyrgyzstan have made it to the second phase of the selection process, the Eurasian Development Bank reported Monday.

Kyrgyzstan's own Kyrgyzaltyn is competing with Aldanzolto GRK, an affiliate with Polyus Gold and Vostok-geoldobycha, associated with Russian Platinum. The field is estimated to house 80.9 tonnes of gold and 16 tonnes of other material and resources. The bank states that the tender board would likely seek $100 million in usage fees.

The companies may submit required documents to the Kyrgyzstan government by April 27, and a meeting of the tender board will take place April 28.

Both Polyus Gold and Russian Platinum are based in the Russian Federation. The latter holds licenses for two development fields in the country and unearths an annual average of 4 million tonnes of platinum. Polyus collected nearly 1.7 million ounces of gold in 2014.

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Eurasian Development Bank

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