Lingbao Gold Co Ltd has received approval from the National Development and Reform Commission (NDRC) to develop a gold mine in the Kyrgyz Republic, the NDRC said in a statement.

    In February, Lingbao Gold announced that its unit Full Gold Mining Ltd agreed to acquire a gold mine in the Kyrgyz Republic for 25.3 mln usd.

    The Istanbul Gold Mine has a mining area of about 1.82 square kilometers with around 23.48 tons of gold reserves.

    The mining and exploration rights for the mine are valid until Feb 6, 2017.