The EDB to extend US $44.6 million to finance Altynalmas Group of Companies’ investment programme
Astana, 19 March 2019. The Eurasian Development Bank (EDB) and Altynalmas signed loan agreements for a total of US $44.6 million to finance Altynalmas Group of Companies’ investment programmes aimed at enhancing gold production.
The funds are planned to be used to prepare the Dolinnoye deposit in Kazakhstan’s Karaganda Region for development, including the construction of a crushing and grading plant and a mechanical repair shop, and construct a gold processing plant in Karaganda Region with an annual capacity of 2.5 million tonnes to process ore extracted from the Dolinnoye deposit.
The project is expected to promote sustainable economic growth in Kazakhstan and create jobs.
“These are not the first agreements we’ve signed with Altynalmas. We continue to build cooperation with the Bank’s ‘anchor’ clients – the major companies that boost the development of our member economies. The advancement of mining is a priority under Kazakhstan’s Strategic Development Plan until 2025. As for us, the investment projects will be in the sectors of mining and metallurgy, which are our priorities in accordance with the Bank’s current strategy for 2018-2022,” Amangeldy Issenov, Deputy Chairman of the EDB Management Board, commented.
Additional Information:
The Eurasian Development Bank (EDB) is an international financial institution founded by Russia and Kazakhstan in January 2006 with the mission to facilitate the development of market economies, sustainable economic growth, and the expansion of mutual trade and other economic ties in its member states. The EDB's charter capital totals US $7 billion. The member states of the Bank are the Republic of Armenia, the Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic, the Russian Federation, and the Republic of Tajikistan.
Altynalmas is a major gold producer that mines a number of gold deposits in Kazakhstan, including in Akbakai District of Jambyl Region and the Pustynnoye deposit in Karaganda Region.
The EDB Media Centre:
Alexander Savelyev +7 (985) 765 23 59 (Moscow)
Azima Sapargaliyeva +7 (777) 750 00 08 (Almaty)
Sergey Gorbachev +7 (916) 727 22 00 (Moscow)