The interim external manager made a decision to start underground gold mining at Kumtor, which has not been formalized anywhere. Report of the Accounts Chamber on the results of audit of Kumtor Gold Company’s work during the period of external management says.
It is noted that even an employment contract has been concluded with the manager of the underground mining project. But at the same time, back in 2012, the Board of Kumtor Gold Company decided to write off $180.7 million for the costs of building infrastructure for underground mining at the field. Later, in 2014, Kumtor abandoned underground development as the cost of the project increased.
«In the absence of a feasibility study for the project, analysis and its results, money were allocated by the decision of the interim external manager for underground mining with their inclusion in the capital projects budget for 2022. As of June 30 last year, the actual costs of the project amounted to $1,357.9 million, while the amount approved according to the plan was $25,157,» the report says.
The Cabinet of Ministers was recommended to consider the issue of the decision made by the interim external manager on the underground gold mining in the absence of a feasibility study, as well as the advisability of continuing work in this direction.
Tengiz Bolturuk and Ryspek Toktogulov were dismissed from all the positions they held. It was reported that the Prosecutor General’s Office began a detailed check. It resulted in three criminal cases with preliminary damage to the state of 1 billion soms. As a result, the former external manager of Kumtor was detained and placed in the remand center of the State Committee for National Security until March 10, 2023. Tengiz Bolturuk himself does not admit his guilt. He stated that all the accusations were false. His lawyer says that the accused is ready to cooperate with the investigation.
