Kazzinc unit plans $4.4 billion revenue from Vasilkovskoye gold deposit in Kazakhstan

Altyntau Kokshetau, a gold producer within the Kazzinc holding, plans to earn $4.4 billion in revenue in the coming years from developing the Vasilkovskoye gold deposit in Zerendi district, Akmola region. The information comes from Qazba.kz, which cited the mining plan and other project documents the company submitted for public hearings in November.

According to the documents, capital expenditure for the underground project is put at $802 million, with a net cash flow of $951 million. The deposit lies 17 kilometres from Kokshetau, the regional centre, and the company expects to mine it underground for 17 years. Ore extraction is set to begin in 2027 at 7,000 tonnes, with gold content of 1.45 grams per tonne.

The plan projects that 22.4 million tonnes of ore will yield 40.5 tonnes of marketable gold over the project's life. The subsoil use contract was extended to the end of 2033 under a tenth amendment in April 2026. At the end of 2025, Glencore International AG held 69.74% of Kazzinc, while Tau-Ken Samruk held 29.82%.