Loan Agreement worth USD 56 million signed between Eurasian Development Bank and Alaigyr JV LLP
Almaty, December 30, 2016
Elnar Kenzhaliyev – Alaigyr JV LLP CEO and Maxim Korzhov – EDB Deputy CEO have signed a document that witnesses a 7-year loan agreement providing for 56 million US dollars finance. Production and processing of polymetallic ores at Alaigyr deposit in Karaganda region is a project that involves construction of mining and processing plant with the 900 thousand tons of ore annual capacity and 60 thousand tons of lead concentrate production.
For the Eurasian Development Bank this firstly means an investment into strategic export-oriented production with utilization of innovative solutions. Process flowchart is designed to use cyanide-free method for project realization alongside the use of articulated trucks at the open pit and operation of WertMill vertical mill. State-of-the-art equipment from the global manufacturers will be used to enable achievement of optimal performance indicators.
According to EDB CEO Maxim Korzhov, Bank’s partnership with Tau-Ken Samruk National Mining Company will lead to creation of hundreds of jobs, economic development in regions, and diversification of mining industry in Kazakhstan.