Russia-focused HGM may invest $322 mln in Kyrgyzstan’s Unkurtash

MOSCOW, Mar 20 (PRIME) -- U.K. Highland Gold Mining (HGM), which operates in Russia, has estimated capital expenditures on the Unkurtash deposit in Kyrgyzstan to amount to U.S. $322 million, the company said in a statement on Monday.

The field’s annual gold output is expected at 133,000 ounces, or 4.14 tonnes, on average with operating expenses of $616 per ounce during an 18-year lifetime. Ore processing is expected at 4 million tonnes with extraction coefficient of more than 80%.

“The company is considering various options of project operation, including partnership with a strategic investor,” HGM said.

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