Gold production rising

Gold production output in Kazakhstan in January – July grew 48.3% as compared to the like period of 2010, the State Agency for Statistics reports. According to the stats, production of raw and semi-refined gold for the period made up 21 432 tons. Refined gold production figure stood at 9.71 tons. In 2010 annual production of raw gold and semi-processed gold stood at 29.9 tons, with 13.3 tons being refined gold. The Kazakhstan’s Ministry of Industry and New technology seeks to bring gold production up to 70 tons a year. July 4 President Nazarbayev announced that Kazakhstan needs a state-owned gold refinery. Earlier Kazakhstan Vice Prime Minister and Minister of Industry and New Technology Asset Issekeshev announced the nation's plans to construct a 3rd gold refinery. He elaborated that “the project could be implemented either solely by the state or in partnership with private investors”. “Feasibility study is under way (…) As of now there are two gold reineris owned by Kazakhmys and Kazzinc”.