The signing of the document is entrusted to Ravshanbek Sabirov, who heads the National Investment Agency.
It was previously reported that the total amount of the deal will be 162 million US dollars.
According to the terms of the agreement, after its implementation, a joint venture will be established with OJSC "Kyrgyzaltyn," where 70% of the shares will be held by Silvercorp Metals, Inc., and the remaining 30% will go to "Kyrgyzaltyn" without any financing obligations.
The National Investment Agency will receive 70 million dollars, which will be paid in two stages: 60 million after the extension of the subsoil use license until 2062, and 10 million upon meeting certain conditions.
CJSC "Chaarat ZAAV" will receive 92 million dollars provided that the government waives its preemptive rights to the projects. This organization is a subsidiary of the British Chaarat Gold Holdings Ltd.
The development of the projects will take place in two stages.
The first stage will last from 2026 to 2028 and will focus on open-pit mining at the Tulkubash deposit. This process will employ heap leaching technology with a planned processing of 4 million tons of ore per year and an expected annual production of up to 110,000 ounces of gold. Investments at this stage will amount to 150 million dollars.
The second stage, which will take place from 2028 to 2031, will involve the development of the Kyzylbash sulfide deposit. Here, both open-pit and underground mines will be utilized, as well as modern technologies for flotation, bacterial oxidation, and carbon-in-leach (CIL). The expected annual production will range from 190,000 to 230,000 ounces of gold with investments of about 400 million dollars.
