economic Miracle” of Altyntau Resources Company

It is hard to believe it now, but in 1997 the gold mining industry in Kazakhstan was considered unpromising, and its companies were in deep decline since the USSR collapsed. This state of affairs continued until 2006 when serious investments from Verny Capital JSC came to Vasilkovsky mine. So the Mayakovsky Ore Mining and Processing Enterprise was gone forever, and Altyntau Company appeared on the map of successful enterprises.

economic Miracle” of Altyntau Resources Company

Success story: how they brought AltyntauKokshetau to life

“Reanimation” of the enterprise began with a complete renovation of the facilities and resources – in fact, the entire infrastructure near the gold mine was constructed anew (more than $700 was invested in it). The event became one of the “first signs” of the state program of forced industrial-innovative development.

Exactly for the plant, unique ball mills, Outotec were created, and obsolete BelAZ trucks and excavators were replaced with the modern Caterpillar equipment. More information about the innovations implemented in the enterprise can be found in this article.

From 2006 to 2012, gold production figures increased 18-fold – up to 9-11 tons per year (a record figure that exceeded the figures for 2 decades!). In 2010, the company even received the Presidential Award “AltynSapa” for the best innovation breakthrough. Having achieved such results, in 2012-2013 BulatUtemuratov left the shareholders of “Kazzinc” (you can read about the business biography of the businessman here), and the gold mining industry of Kazakhstan continued the positive development dynamics.

Enterprise today

Currently, the operations at the quarries continue without cessation. At full capacity, the plant can produce up to 15 tons per year and is the leader in the gold mining and processing industry (moreover, thanks to such successes of the enterprise, Kazakhstan is in the TOP-15 of the largest gold mining countries). The extraction of precious metal is carried out using opencast methods, through the development of quarries.

This deposit is characterized by the ore, which is difficult to enrich – there are only 2-2.5 grams of gold impregnation in one ton. High profitability was achieved thanks to innovative enrichment technologies – investments of BulatUtemuratov made it possible to realize the ultramodern production complex and turn Altyntau Resources JSC into the industry leader.

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