AmCham News

AmCham is pleased to introduce New Member — Alliance Altyn LLC

We are pleased to introduce you AmCham new Member — Alliance Altyn LLC.

Alliance Altyn LLC, a subsidiary of the Russian company “Vostok-geoldobycha”, received a license for development of the “Jerooy” field in May 2015. The opencast mining began in October 2019, and the full launch of the gold processing plant and tailings ponds was held in March 2021.

The budget of the investment phase of the Project amounted to 301.6 million US dollars. Total investment project was more than 410 million of US dollars. Own funds amounted to 210 million of US dollars, including resources was paid for the competitive payment in the amount of 100 million of US dollars. The Public Stock Company (PSC) the VTB Bank in line of credit was received a loan funds in the amount of 190 million of US dollars.

The design capacity of the gold ore processing plant is 1,300 tons of ore per a year. Annually, the revenue side of the budget will receive payments in the form of royalties, gold sales tax, property tax, value-added tax (VAT) on operating costs, payments for the development and maintenance of local infrastructure, income tax, contributions to the social fund and other types of taxes in the amount of approximately 5 .5 billion soms.

Since the launch on February 7, 2021, to date, the plant has been producing products in a stable normal mode with actuals performance and recovery indicators that are better than the design. The amount of gold was produced from the launch date to June 14, 2022 amounted to 4,798 kg, of which 4,575 kg were refined and sold. The volume of proceeds received amounted to 408 million US dollars.

In 2021, the Company mined 1,049 thousand tons of ore, produced 3,008 kg of Dore ingots, 2,776 kg of refined gold. According to the business plan, in 2022 it is planned to extract 1,079 thousand tons of ore, produce 4,000 kg of gold in Dore ingots, and 4,131 kg of refined gold.

Since the moment of the license received and for today the Company has listed 750 million soms to the Development Fund of Alliance Altyn through it a project has been carried out in different directions.

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