en.Wedoany.com Reported - On August 12, the Ministry of Industry and Construction of Kazakhstan completed the registration of Supplementary Agreement No. 7, extending BASS Gold's gold ore mining contract for the Ushshoky deposit in the Ulytau Region to December 31, 2030. The contract was originally set to expire on August 9, 2026, and is based on Mining Contract No. 272 signed on November 30, 1998.
The Ushshoky gold deposit is mined using underground methods, with a designed mining depth extending to 300 meters below the surface. Main products include gold-bearing concentrate and polymetallic doré bullion. The contract renewal covers the existing mine's production cycle, providing the mining rights basis for deep ore body extraction, exploration of surrounding resources, and continued operation of supporting processing facilities.
In April 2024, BASS Gold commissioned a gold processing plant at the mine site, establishing a complete process chain from ore treatment to doré bullion production. The plant has a designed ore processing capacity of 72,000 tonnes per year, and at full capacity is expected to produce approximately 20.8 kilograms of doré bullion per month, with an annual output of about 250 kilograms.
The processing plant employs a vat leaching process. Some core equipment was supplied by Chinese companies, while the remaining equipment was provided by Kazakhstani manufacturers. The doré bullion produced at the mine is refined by the Tau-Ken Altyn refinery. In January 2025, BASS Gold and Tau-Ken Altyn signed a new product supply agreement, maintaining the downstream linkage between the Ushshoky project and Kazakhstan's domestic gold refining system.
In addition to the existing ore body, BASS Gold is carrying out resource expansion work across 11 adjacent exploration blocks near the mine site. With the mining contract extended to the end of 2030, existing underground mining, processing and smelting operations, and peripheral exploration can continue to advance within the same project cycle.
Operating data shows that BASS Gold generated operating revenue of KZT 5.6 billion in the first half of 2026, with EBITDA of KZT 3.2 billion, an EBITDA margin of 58%, and net profit of KZT 2.06 billion. In 2025, the company paid approximately KZT 1.7 billion in taxes and other mandatory payments.
