Vasilkovskoe zoloto increased gold output by 5.7%

/IRBIS, June 18, 04/ - REUTERS informed that one of the largest gold producers in Kazakhstan joint-venture Vasilkovskoe Zoloto increased production of cathode gold in January-May 2004 by 5.7% up to 365.5 kilograms from 245.9. Total goods production for the five months equaled KZT 619.363 m ($4.5. m). Metal production in 2003 and 2004: -------------------------------------------------------- May May January-May January-May 2004 2003 2004 2003 -------------- ------ ------ ----------- ----------- Cathode gold 85.000 79.384 365.468 345.888 (kilograms) Cathode silver 4.000 4.011 23.07 19.178 (kilograms) -------------------------------------------------------- The shareholders of Vasilkovskoe Zoloto JV is State Privatization Committee (40% of shares) and Flodgate Holding B.V. (Netherlands - 60% of shares). Authorized capital - KZT2.0 bn. In 2003 production totaled 955 kilograms of gold or 3.7% higher than in 2002. [2004-06-18]