08.10.2018

Investments in the Jeruy gold mine will exceed $400 million and take their spot among the largest ones in Kyrgyzstan.

So far, the project has been funded entirely by shareholders. Alliance Altyn plans to obtain a significant amount of project financing from outside investors, attracting leading international financial institutions to the Kyrgyz Republic.

The main creditor of the project is one of the largest banks in Russia — VTB Bank. The Loan Agreement provides for long-term project financing in the amount of $180 million. In accordance with international banking practice, shareholder guarantees and a pledge mechanism based on the laws of the KR on Pledge and Article 38 of the KR Law on Subsoil are used as a prerequisite for providing financing. The project stage is insured by Willis Towers Watson, one of the leading international insurance brokers, with more than $8 billion in sales and 40,000 employees in 140 countries.

International companies with many years of experience in the design and construction of mining, smelting, energy and infrastructure facilities are involved in the implementation of the project.

AAEngineering Group with offices in the Republic of Kazakhstan, South Africa and Kyrgyzstan was chosen as the general contractor for the turnkey construction of the processing complex.

Worley Parsons, an international engineering firm with 26,000 employees in 42 countries that specializes in mining consulting services, served as the project engineer.

The participation of world-class companies is aimed at the successful implementation of the project of exploration and mining at one of the largest gold deposits in Kyrgyzstan, and will contribute to enhancing the investment climate in the country as a whole, improving Kyrgyzstan's international reputation in global markets, further increasing investments as well as attracting large and reliable economic partners to the country.

The project of the development at the Jeruy gold deposit has entered its active phase. The building of infrastructure and individual facilities at the Talas Gold Mine is nearing completion. Construction and installation works on the shift camp, boiler house, fuel and lubricants warehouse with fuel-dispensing complex were finished, roads of the lower cluster were built, the ore-driving road was prepared for commissioning, construction of engineering networks and power supply facilities is nearing completion.

To date, 28 construction permits have been obtained from state-authorized regulatory agencies. 19 contractors, 327 specialists and workers are involved at the sites, along with 126 units of equipment. Repair and construction work is underway at 25 sites, 9 of which have already been commissioned.

Since obtaining the license, Alliance Altyn has invested 770 million KGS in the development of Talas region, of which 470 million KGS through tax and other allocations and 300 million KGS through the Bakubat Talas Welfare Fund.

Alliance Altyn LLC press service.