13th Oct 2020 10:43
(Alliance News) - Altyn PLC on Tuesday said that design work for a tailings storage facility expansion is nearly complete with construction penned to begin in the second quarter of 2021.
Altyn, a Kazakhstan-focused miner operating the Sekisovskoye gold processing plant, said section IV of the asset's tailings storage unit is "nearing completion as of October 2020".
Construction is forecast to begin in the second quarter of next year, as soon as Altyn has received regulatory approval.
"Furthermore, preliminary design work on the construction of section V of TSF has commenced. It is expected that this will be commissioned in 2023 which will ensure the continuity in operation of the gold processing plant after 2024," Altyn said.
Altyn shares were 9.1% higher at 2.15 pence each in London on Tuesday morning.
By Eric Cunha; [email protected]
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