Kazakhstan to start refining gold from Iran

ASTANA (TCA) — Last year Kazakhstan’s three gold refineries produced more than 30 tons of refined gold, an increase of 15 percent compared to 2014, Meiramgali Tleuzhanov, director of Tau-Ken Altyn gold refinery, told a news conference on March 15, the official website of the Prime Minister of Kazakhstan reported.

Tleuzhanov said that there are three gold refineries in Kazakhstan: Tau-Ken Altyn, a precious metals plant of Kazzinc metallurgical complex, and a gold refinery of Kazakhmys Corporation.  

Tau-Ken Altyn is wholly-owned by the state.

In 2014 Tau-Ken Altyn sold around seven tons of gold to the National Bank of Kazakhstan, last year it sold more than ten tons, and this year it plans to produce 14 tons of gold in standard ingots.

Today the National Bank of Kazakhstan buys all products of the country’s three gold refineries, to replenish the country’s gold reserves.

Tleuzhanov said that a few years ago, Kazakhstan refined its gold abroad, but now the country imports raw materials. By the end of this year, Kazakhstan plans to refine around four tons of Iranian and Russian gold.

“This year we will start refining gold from Iran,” Tleuzhanov said, adding that in the past Iranian gold was refined in the United States. “Part of Iranian (gold) companies has decided to cooperate with us.”   

He also said that Kazakhstan also plans talks with Mongolia on gold supplies for refining.

Kazakhstan’s three gold refineries can refine a total of 130 tons of gold per year.

Sergey Kwan


Sergey Kwan has worked for The Times of Central Asia as a journalist, translator and editor since its foundation in March 1999. Prior to this, from 1996-1997, he worked as a translator at The Kyrgyzstan Chronicle, and from 1997-1999, as a translator at The Central Asian Post.
Kwan studied at the Bishkek Polytechnic Institute from 1990-1994, before completing his training in print journalism in Denmark.

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