Over 14 tons of gold produced at Kumtor gold mine in 2021

Bishkek, Jan. 18, 2022. / Kabar /. At the first meeting of the Cabinet of Ministers of Kyrgyzstan in 2022, Tengiz Bolturuk, interim external manager of Kumtor Gold Company CJSC, presented a report on the company's performance for 2021 and for the period of temporary external management.

He noted that good results were achieved during the reporting period. Thus, in the twelve months of 2021, Kumtor produced 14,561 kg of gold. Since the beginning of the year, the company has transferred taxes and mandatory payments in the amount of KGS 13.6 billion, while the plan was KGS 9 billion. Thus, the deduction plan is exceeded by 150%.

Total gold sales revenue for 2021 amounted to USD 856 million, of which USD 621 million for the period of temporary external management.

Cash total cost per ounce of gold is reduced by USD 220 or more than 16% compared to plan.

Tengiz Bolturuk also informed about the plans for the next year.

He said that in the near future - the implementation of sustainable development projects that will improve the technology for processing ores with high sorption activity, increase gold recovery, start underground mining of the mine and dump tailings of the tailings.

According to the development plans of Kumtor Gold Company for 2022, production of over 17 tons of gold is expected.

“Despite all the difficulties that arose during the transition to external management, and the obstacles placed by Centerra Gold Inc., the workforce of Kumtor Gold Company coped with the tasks. The Kumtor mine is operating stably, uninterruptedly, in the normal mode. All taxes and obligatory payments to the budget are paid on time and in full,” Tengiz Bolturuk assured.

Based on the results of the discussions, members of the Cabinet of Ministers positively assessed the results of the work of the Kumtor mine in 2021.

Temporary external management at Kumtor Gold Company CJSC was introduced by the Order of the Cabinet of Ministers of the Kyrgyz Republic dated May 17, 2021.

Tengiz Bolturuk was appointed as an interim external manager of the enterprise by order of the Chairman of the Cabinet of Ministers. Currently, negotiations are nearing completion for the complete transfer of the Kumtor mine to the Kyrgyz Republic.