Gold mining company Highland Gold, whose major shareholder is Primerod International Ltd. of the Russian billionaire Roman Abramovich and partners (32% stake), has invited Chinese investors to develop its deposits at Unkurtash in Kyrgyzstan.
Statement of willingness to work with the Chinese investors was made at an industry conference in Beijing, the representative of Highland Gold. He expressed his belief that the Chinese would be interested to participate in the Unkurtash development because of its geographical proximity and operational experience in the country. But he refused to talk about the specifics because a feasibility study on the exploration results was being prepared.
High risks of doing business in Kyrgyzstan may become the obstacle for the realization of project of Highland Gold in the Unkurtash field.
Of Russian gold companies in Kyrgyzstan only “Vostok-geoldobycha” (affiliated company of Russian platinum) mines, in 2015 it won the competition to develop the second-largest field in the republic Jerooy (proven reserves – 2.9 million ounces).
In 2015, Kyrgyzstan produced 17.4 tons of gold. In 2016 it is planned to increase gold production up to 21.4 tons. (24.kg/Business World Magazine)