Scythian Mining Group is a mining and exploration company primarily operating in Kazakhstan. The company is currently working toward a public listing on the London Stock Exchange’s AIM market to fund its transition from exploration to production.
Key Projects
Kokkus Gold Project: Their flagship asset, targeting a resource of over 5 million ounces of gold. It is designed for low-cost, open-cut mining with a production target of 120,000 to 240,000 ounces per annum by 2028.
Copper-Gold Pipeline: Through its subsidiary, Scythian Copper Ltd, the company is exploring significant copper-gold porphyry systems in Kazakhstan, including a 50/50 joint venture with US-based IG Global.
“Clean Mining” Initiative
A major differentiator for SMG is its commitment to environmentally conscious mining practices:
No Cyanide: They utilize “Clean Mining” extraction technology (developed by CSIRO) which replaces traditional cyanide with safer alternatives for gold recovery.
Emissions Free: The company aims for “Emissions Free Mining” by integrating 20MW solar and wind generation systems into their operations.
Investment Strategy
IPO & Funding: As of early 2025, SMG has appointed Tavira Securities to assist in a pre-IPO fundraising round of up to $10 million to cover drilling and exploration costs.
Low Cost: Their assets are selected specifically for simple metallurgy and low energy requirements, aiming for an All-In Sustaining Cost (AISC) between $772 and $822 per ounce.
