The volume of investments required throughout the entire operational period will range from $170 million to $200 million.
Approximately $650 million to $700 million is anticipated in the form of tax revenues to the republican budget.
“These financial forecasts are based on current market prices for gold. As a result of our activities, 600 new jobs will be created,” the company added.
The license for the development of Togolok was issued in August 2023, after which active geological studies began to confirm the reserves. These works are financed by CJSC "Kumtor Gold Company."
Currently, preparatory work is being carried out to lay 35-kilometer power lines from the village of Ak-Shiyrak. A substation with a capacity of 10 megawatts and a gold extraction plant with a capacity of 500,000 tons of ore per year are planned to be built at the Sary-Bel site.
A technical road from the village of Uch-Koshkon to the deposit is also being designed, and a new bridge over the Kaychi River is being constructed.
Full-scale mining operations at Togolok are set to begin this year. The first ore is expected to be extracted in 2026, and the first doré alloy will be smelted in 2027.
The process of developing the deposit is planned for 16 years and will be divided into two stages. The total gold production will exceed 16 tons:
- in the first stage, it is planned to extract 6 tons of gold using open-pit methods over seven to eight years;
- in the second stage - more than 10 tons of precious metal using underground methods.
