In the first nine months of 2023, Kyrgyzstan received 20 billion 489 million soms from the development of the Kumtor gold deposit, according to the Minister of Finance Almaz Baketaev.
Of this, 7 billion 317 million soms contributed to GDP. A further 132 million soms were allocated for modernisation at the Kumtor Gold Company, 537 million soms went to the Issyk-Kul regional development fund and 322 million to the Naryn fund.
In 2022, revenue from Kumtor totalled 34 billion 751 million soms. This incorporated 16 billion 849 million soms in outstanding payments covering several years, equivalent to 4% of GDP.
President Sadyr Japarov stated 17.3 tons of gold were extracted at Kumtor in 2022. Taxes and mandatory payments totalled 32.2 billion soms with net profit of 371 million dollars.
Thus far in 2023, 14 tons of gold have been extracted according to Kumtor Gold Company President Almaz Baryktabasov. In 2022, 140 million dollars in dividends were paid to the state budget representing approximately 25% of profits.
The Kumtor Gold Company develops the Kumtor deposit in Issyk-Kul region. Kyrgyzstan gained full ownership after reaching consensus with Centerra Gold in April 2022 regarding outstanding environmental and economic claims.
