IM 2019 November 19 | Page 10

OPERATION FOCUS Paul Moore visited the Kyzyl gold mine in East Kazakhstan, based on a deposit that has had a remarkable change of fortune under Polymetal thanks to a robust feasibility process and sound technical approach Kazakhstan’s golden phoenix he Kyzyl gold mine has evolved into a truly world-class asset, based on a project acquired by Polymetal in 2014 for a total of $618.5 million (it acquired Altynalmas Gold, the holding company, from Sumeru Gold and Sumeru). Despite naysayers at the time this has proven to be a very sound investment for Polymetal with its success based on sound plant engineering and the selection of the right process route for what is a difficult refractory ore. This has turned the fortunes of the operation around from a very negative period of press from the 1990s onwards including under Ivanhoe from 1996 when a combination of its complex mineralisation and processing issues caused it to be referred to as cursed (and worse names) in financial circles. Fast forward to 2019 and the mine is now the largest contributor to Polymetal’s current success and a flagship of Kazakhstan’s gold mining industry. The Kyzyl project is located in north-eastern Kazakhstan some 750 km east of Astana in a traditional mining region with good infrastructure and easy access to grid power and the railway. Based in the Auezov village, the site is approximately 750 km east of the capital city of Nur-Sultan and 75 km west of the mining and metallurgical industry centre of Ust-Kamenogorsk. Kyzyl is also in close proximity to the Russian (120 km) and Chinese (330 km) borders. The nearest railway station is 6 km away in the village of Chalobai, connecting Ust-Kamenogorsk to Shar, as well as Russia, China and Europe. T Geology and setting The Kyzyl mine is based on the Bakyrchik (and will also later include Bolshevik) refractory gold deposits which are hosted in the Kyzyl Shear Zone (KSZ), an 11.5 km shear zone dipping 30 to 40 degrees north and ranging in width from 10 to 240 m. It has been traced to depths of 1.5 km 8 International Mining | NOVEMBER 2019 in the west and 3.5 km in the east. The structural geology is dominated by the large E- W KSZ fault. The epigenetic mineralisation is characterised by an irregular shape occurring in mud shale, siltstone, various grained sandstone, interstratified rocks and diorite poryphry. The gold itself is fine grained and associated with arsenopyrite and to a lesser extent pyrite. The gold is intimately associated with these sulphides whose distribution is related to host rock permeability with coarse grained sandstone containing the most sulphides and therefore gold. The host rock averages 3% carbon of which some 50% is organic. Kyzyl's open pit utilises a fleet of 136 t BELAZ trucks for overburden removal Ownership then passed to Ivanhoe and extensive metallurgical test work and multiple scoping studies were undertaken to determine a potentially viable development approach for Bakyrchik. A number of options were considered, including a combination of open pit and underground mining at several production rates, as well as rotary kiln or fluidised-bed roasting processes. Subsequently, a 100,000 t/y single-stage roaster using a rotary kiln operated at Bakyrchik between 2009 and 2010, achieving gold recovery between 30% and 60% at less than the designed throughput rate. At Bolshevik, open-pit production commenced in 1985 and ceased in 2004 with approximately 1.1 Mt of ore at a 5 g/t grade produced and sold to smelters as gold-bearing flux. In addition, a 100,000 t/y pilot plant that used flotation followed by bioleaching and CIL operated in 2003-2004 but did not achieve positive economic results. No meaningful production activity has taken place at the Kyzyl Project after 2010. In 2014 the Kyzyl gold project which comprises the Bakyrchik and Bolshevik gold deposits was acquired by Polymetal. In 2015 the company announced the successful completion of the Feasibility Study for the Kyzyl gold project and the updated Ore Reserve and Mineral Resource estimates. Later that year the Polymetal Board made a positive decision to proceed with the Kyzyl construction and development. History of Bakyrchik mining The Kyzyl Shear Zone was discovered in the early 1950s by surface trenching. Open-pit production commenced in 1956 at roughly 19,000 t/y at an average Au grade of 9.4 g/t. By 1969, production increased to 165,000 t/y at an average Au grade of 8.5 g/t and by the time open-pit production ceased in 1994, approximately 2.1 Mt of high-grade ore (7.6 g/t) had been processed. Underground mining, on the other hand, commenced in 1963 with production ranging from 20,000 t/y to 95,000 t/y. As of the suspension of underground mining in 1997, approximately 1.7 Mt at 7.4 g/t Au had been produced. Ore was mostly sold to smelters as gold-bearing flux. The two headframes are still visible near the existing mine. In 1992, an international joint venture was formed to operate Bakyrchik, and two years later a provisional processing plant was constructed with a capacity of 150,000 t/y, incorporating conventional flotation, nitric-acid sulphide oxidation (Redox) and CIP. However, operating results turned out negative and this option was abandoned in 1996. Commissioning and start up under Polymetal Following the completion of all construction and commissioning activities, Kyzyl successfully produced first gold concentrate in June 2018. Polymetal achieved the start-up of the concentrator one quarter ahead of the original schedule, announced in 2014, and one month earlier than the January 2018 updated plan. Kyzyl delivered a robust performance in 2018, exceeding the initial plan on grade, throughput and production. Full-year gold production came in at 96,000 oz of gold, significantly beating the original 2014 guidance of 80,000 oz, while gold in concentrate amounted to 134,000 oz. Ore processed was 914,000 t, with average gold grade in ore processed at 5.7 g/t. Concentrate of 56,000 t with an average grade of 75 g/t was produced. Payable gold shipped comprised 89,000 oz. The Amursk POX plant successfully processed 2,000 t of low-carbon concentrate from Kyzyl, achieving recovery of 96%, with 7,000 oz of gold produced. Polymetal reported strong production from Kyzyl for the second quarter and the six months