On May 7, Chairman of the Cabinet of Ministers of the Kyrgyz Republic Akylbek Japarov inspected the Kumtor gold mine in the permafrost zone of the Issyk-Kul region.
Sitting 4,000 meters above sea level, the mine serves one of the world’s ten largest gold deposits and prior to being nationalized in 2021, was owned by Canadian company, Centerra Gold.
The mine now has over 3,000 employees, 99.9% of whom are local specialists, and more than 800 specialist vehicles, machinery and equipment to ensure uninterrupted production.
With reference to the significant developments to the site since nationalisation, the Prime Minister emphasized the importance of the state’s role in maintaining its efficient operation.
Last year, the mine generated 17.2 billion soms (over $194 million) in taxes and social payments – equivalent to roughly one-third of Kyrgyzstan’s state budget.
Japarov also inspected Kumtor’s underground gold mining project, which launched in February, will enable the further extraction of about 115 tons of gold.
At Kumtor’s open-pit mine, it currently takes one ton of processed ore and over 40 tons of extracted waste rock to produce 5-7 grams of gold. Underground mining has the potential to double that yield with less damage to the environment than its open-pit equivalent.
Further to the prime minister’s visit, it was reported that from 2026, mining will begin on ore waste stored at the Kumtor mine tailings and according to estimates, will produce an additional 120 tons of gold.
In 2023, the Kumtor mine produced 13,567 tons of gold, with a total revenue of $848 million, and net profit of $302.5 million.
