Prime Minister of Kyrgyzstan Visits Kumtor Gold Mine, Emphasizes Importance of Mining Operations

07/05/2024

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During a working trip to the Issyk-Kul region, Prime Minister and Head of the Presidential Administration of the Kyrgyz Republic, Akylbek Japarov, familiarized himself with the activities of the closed joint-stock company “Kumtor Gold Company.” A meeting was held with the management of the Kumtor enterprise, where Prime Minister Japarov emphasized the crucial importance for the state to ensure uninterrupted and efficient operation of the mine, as well as the fulfillment of all planned objectives. He then visited the machinery workshop of the enterprise to inspect the assembly of new excavators and refueling stations. The project for the automation of oil storage facilities and refueling stations at Kumtor allows for meticulous control over fuel consumption. Currently, over 800 different vehicles, machinery, and equipment are utilized to ensure uninterrupted mining at the site. Prime Minister Japarov also visited the main quarry of Kumtor, where mining operations are in full swing, including the implementation of an underground gold mining project. It’s worth noting that in February of this year, the underground gold mining project at the Kumtor deposit was launched, aiming to extract around 115 tons of gold. During the inspection of the gold mining plant, it was noted that new equipment has been installed, similar to an X-ray machine, enabling proper control of entries and exits from the plant premises. Additionally, it was announced that gold extraction from ore waste located in the mine’s tailings facility is planned to commence in 2026. Preliminary estimates suggest this could yield an additional 120 tons of gold. Furthermore, the 2023 results revealed that 13,567 tons of gold were extracted from the Kumtor deposit, with the company’s total revenue amounting to $848 million USD, and a net profit of $302.5 million USD. Prime Minister Akylbek Japarov, having familiarized himself with the Kumtor mine operations on-site, highlighted significant changes occurring for the state following Kumtor’s transition. Notably, last year, the country’s budget received 17.2 billion soms in taxes, social payments, and other fees, with over 99.9% of the workforce comprising local specialists.

Source and Credit: gov.kg