Domestic companies to develop strategic deposits in Kyrgyzstan

Bishkek, Jan. 29, 2022. / Kabar /. In 2021, for the first time in the history of the Kyrgyz Republic, Kumtor Gold Company CJSC introduced Temporary External Administration. As a result of these actions, all gold produced by Kumtor Gold Company CJSC remains on the territory and in the ownership of the republic.

Strategic deposits (Andash, Taldy-Bulak, Togolok and others) will now be developed by domestic state-owned companies. For these purposes, an National Holding Company Heritage of the Great Nomads OJSC and Kyrgyzgeology the state enterprise were established. By order of the Cabinet of Ministers, the moratorium on granting licenses for the right to use subsoil to economic entities and state-owned enterprises with a 100% state stake has been lifted.

In order to return licenses unreasonably retained by unscrupulous subsoil users, the fees for retaining licenses have been raised.

Reclamation funds (about 340 million soms) of subsoil users (except for Kumtor) will be accumulated in banks with 100% state participation (RSK Bank and Aiyl Bank) and can be used by banks on a repayable basis.

In order to preserve, restore aquatic ecosystems and efficiently use water resources, new fees for the use of surface water for the mining industry have been approved - from 60 to 100 soms per 1 m3 (depending on the elevation above/below 2700 meters above sea level).