Kazakhstan to start gold refinery construction in 2012

8 November 2011 (Last Updated November 8th, 2011 18:30)

Kazakhstan is planning to start construction of the third gold refinery in 2012, in order to process the precious metals in the county.

Kazakhstan is planning to start construction of the third gold refinery in 2012, in order to process the precious metals in the county.

The refinery will be operated by state miner Tau-Ken and will require an investment of $30m for the construction, reports Reuters.

Tau-Ken Samruk will plan the investment programme to build the refinery and supply all of the necessary raw materials.

According to Kazakhstan's Industry Ministry, the refinery will have a production capacity of 25tpa of bullion.

The country produced 27.5t of gold in the first nine months of 2011 and is planning to increase its annual gold output to 70t or more by 2015.