In Kyrgyzstan, the gold mining company "Kumtor Gold Company" has provided a financial report for the year 2023.
The company's revenue from production activities in 2023 amounted to $849 million, exceeding the planned $734.2 million, the company's press-service reports.
"In 2023, the company sold a total of 13,577 kilograms of gold. The net profit for the year was $302.4 million, surpassing the plan of $194 million. In the form of taxes and other payments, a total of 17,241,071 thousand soms were paid to the national budget," Kumtor stated.
The capital investments of "Kumtor Gold Company" in 2023 amounted to $111.5 million, compared to $186.1 million in 2022, as reported by the press service.
Additionally, Kumtor Gold Company reported contributions for the development of the Issyk-Kul region. In 2023, the company allocated $8,389,000 for the region's development, transferred $5,033,000 to the Development Fund of Naryn Region "Tenir-Too," contributed $1,597,000 to the Partnership Development Fund, and allocated $1,542,000 to the Nature Development Fund.
The gold mine is located on the territory of the Issyk-Kul region, near to the Naryn region. Glacial waters from the mine flow into the neighboring region and feed the largest river in Kyrgyzstan, the Naryn.
Furthermore, Kumtor Gold Company mentioned that it saved over $30 million last year through process optimization and equipment modernization during mining operations. On February 15, the company announced the commencement of an underground gold mining project, aiming to extract more than 100 tons of gold.
The Kyrgyzstan government imposed external management at the Kumtor mine in 2021. In that year, 14.6 tons of gold were extracted, of which 4-5 tons were exported by the Canadian company Centerra Gold, which managed the mine for about one-third of the year. The remaining 10 tons of gold stayed in Kyrgyzstan, generating a profit of $323 million and contributing 13.6 billion soms in taxes to the national budget.
In 2022, when the Kumtor operation was solely managed by the Kyrgyz side, 17.3 tons of gold were extracted. The total revenue from gold sales amounted to $986.5 million, contributing 32.1 billion soms in taxes and other payments to the national treasury.
CentralasianLIGHT.org
February 26, 2024