Polyus Gold, Norilsk Nickel signal interest in Kyrgyzstan's gold

Russia's Polyus Gold and Norilsk Nickel have expressed interest in developing gold reserves in Kyrgyzstan, a Russian official said.

Polyus Gold has formally applied for participation in an intergovernmental partnership.

In March 2012, Kyrgyzstan announced plans to auction the license for the Togolok gold deposit with reserves of 13 million metric tons of ore at a grade of 2.6 grams of gold per mt.

The vast majority of gold mined in Kyrgyzstan is purchased by Russia's Nomos-Bank. Last year Nomos-Bank purchased 20 mt of gold.

Kyrgyzstan produces around 20.5 mt of gold per year.

Source (Russian): Prime Agency