Kyrgyzstan’s largest gold mining company, Kumtor, has announced a decrease in gold production. However, authorities assure that this is temporary.
In 2023, Kumtor Gold Company produced 13.5 tons of gold, less than planned; the professional community even began to talk about the mine’s imminent depletion. However, the company itself hastened to reassure citizens.
The company’s representatives commented: “Reduced gold production targets are common due to the low grade of gold in commercial ore mined at Kumtor. The mining of low-grade ore will continue for some time. In the future, gold production is expected to increase to 17-18 tons gradually. This takes into account the implementation of projects for underground mining of gold-containing ore and processing waste ore from the tailings pond.”
It is worth noting that all of Kyrgyzstan is watching the volume of gold production, as Kumtor’s share of the country’s GDP is almost 10%. In 2023, the company paid more than $200 million to the country’s budget. After nationalization in 2021, foreign experts predicted a rapid closure of production. Allegedly, the gold extracted by open-pit mining at the mine is running out.
“Right now, the ore is poor,” responded Cabinet Chief Akylbek Japarov to the criticism. “We plan to mine 14 tons each. Previously, we were getting 17 tons. This happens in geology.”
However, the low figures have forced the country’s authorities to reconsider their approach to mining. Gold will now be mined underground. In addition, it was announced that the processing of gold in Kumtor’s tailings pond will begin soon.
Specialists of the Institute of Geology at the National Academy of Sciences confirmed to The Times of Central Asia information about the reduction of precious metals in the area of the open pit at Kumtor. Earlier, there were 7 grams of gold per ton of ore; today, it is 5 grams.
“But the gold is not running out. There is still quite a lot of gold at Kumtor – over a thousand tons. But everything depends on the areas that are going to be developed. Part of the gold-bearing strip is under glaciers,” said geologist Rozalia Jenchuraeva.
The Institute of Geology recommends that the government quietly conduct exploration and not rush to mine gold hidden under glaciers, as this could damage the ecology.
“There is still enough gold at Kumtor, and you don’t have to worry about it. Although gold mined underground will be more expensive, this method will have less impact on the melting of glaciers. The depth of gold content will probably change, but we will have enough for a hundred years; we need to be rational in our approach to mining,” Jenchuraeva emphasized.
Previously, the Kumtor mine produced 20-22 tons of gold annually.
