The Cabinet of Ministers issued a license to Kumtor to develop the Togolok deposit. This information was confirmed by the press service of Kumtor Gold Company.
The Cabinet of Ministers reportedly issued a license to Kumtor to develop and explore the Togolok deposit. Economist.kg confirmed this information in the company. In addition, Kumtor said that the process of developing the deposit will take some time, since at the moment there is no infrastructure there.
According to open sources, the deposit is located in the Issyk-Kul region, and its area is 42.2 hectares. Approximate explored reserves are 8 million 124 thousand tons of ore and 17 thousand 367 kilograms of gold with an average grade of 2.1 grams per ton.
Recall that in the first half of the year, Kumtor sold almost 5.5 tons of gold and earned $101.2 million in net profit from this. Thus, the actual proceeds of the Kumtor Gold Company from the sale of gold amounted to $341.3 million, while the planned figure was $287 million.