On August 8, 2023, "Kumtor Operating Company" received a license for the development of Togolok, marking the beginning of active geological research funded by CJSC "Kumtor Gold Company." This was reported by the company itself.
As part of this research, drilling was conducted at 40 sites, with a total length of 9,500 meters. About 11,000 samples were taken, including 608 channel samples weighing 8 tons collected from an old adit, which are being sent for detailed laboratory analysis.
One of the main problems faced by developers is the lack of infrastructure, and Togolok is no exception. Currently, work is underway to lay 35 kilometers of power lines from the village of Ak-Shiyrak.
A substation with a capacity of 10 MW will be built at the Sary-Bel site. A road from the village of Uch-Koshkon to the deposit has also been designed, and the construction of a new bridge over the Kaiychi River is underway. Modern modular homes and specialized mining equipment have been purchased for geologists.
A gold extraction plant capable of processing 500,000 tons of ore per year is planned to be built at the Sary-Bel site. Full-scale mining operations at Togolok are expected to begin in 2026, with the first ore production anticipated that year, and the first dore alloy to be smelted the following year.
Simultaneously, drilling operations are being conducted in the promising area of Jangart, with a total length exceeding 16,000 meters. The development of Togolok, planned for 16 years, will be carried out in two phases.
Overall, it is planned to extract more than 16 tons of gold. In the first phase, lasting 7-8 years, 6 tons of gold will be mined using open-pit methods, while in the second phase, over 10 tons of the precious metal will be extracted using underground methods.
The expected revenue from the development of Togolok is estimated to be between 2 and 2.3 billion US dollars, with a net profit of around 600-700 million US dollars.
Total capital investments over the entire operational period are estimated at 170-200 million US dollars. Approximately 650-700 million US dollars will be directed to the republican budget in the form of taxes.
All financial data provided are projections based on current market prices for gold. As a result of the project, 600 new jobs will be created.
