China Nonferrous Gold expects to begin trial processing through the plant at its 100%-owned Pakrut gold project, in the Republic of Tajikistan, in October. In its latest interim results, the company reports that the plant is more than 95% complete and with 90 kt of mined ore on the stockpile the company will begin processing at a rate of 2 kt/d.
The mine is designed to produce initially at 660 kt/y, increasing to 1.32 Mt/y from 2017 in Phase 1. The capital cost for Phase 1 is US$177 million and the company spent US$29.7 million in H1 2015 after spending US$81.5 million in 2014. The project is being funded by a US$120 million debt facility from the Industrial and Commercial Bank of China (Macau) and US$42 million from a Shareholder Loan.
The project has JORC-compliant M&I resources of 28.6 Mt at a grade of 2.77 g/t for 2.55 Moz of gold contained (at a 0.5 g/t cut-off). Inferred resources add 2.2 Moz of gold contained.
China Nonferrous Gold plans first ore processing in October: CNG