Ore Mining and Processing Enterprise Tort-Kudyk (Kazakhstan) announces completion of investment project on reconstruction of ore-dressing plant

/KASE, January 24, 11/ - Ore Mining and Processing Enterprise Tort-Kudyk (Astana), whose securities are officially listed on Kazakhstan Stock Exchange (KASE), has by an official letter informed KASE of the following: quote In 2010, the Ore Mining and Processing Enterprise Tort-Kudyk completed an investment project on reconstruction of an ore-dressing plant. As a result a new technology was installed - "coal in pulp" - with the end product - ligature gold - containing up to 98% of metal. In 2007-2010 investments made up KZT1.029 bn. The new technology will make it possible to deploy mines and ore occurrences considered as unprofitable and unattractive in the past. The investment project "Reconstruction of Ore-dressing Plant" was put on the Republican Industrialization Map in 2010. With the new technology to be introduced in 2011, the enterprise hopes to be able to process as much as 500 thousand tones ore a year, meaning 1 ton gold and 1 ton silver output and eventually earning KZT100 m of net profit. In January 2011 the National Ore Mining Company "Tau-Ken Samruk" signed a memorandum with the Ore Mining and Processing Enterprise Tort-Kudyk on joint development of the "Eshkiolmes" goldfield. unquote [2011-01-24]