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Kyrgyzaltyn: Kumtor earns 1.5 times more for year than under Centerra

«We have received 1.5 times more equity income for a year than the foreign company for 28 years,» Kyrgyzaltyn OJSC said.

The company noted that over 28 years of operation of Kumtor by the Canadian company Centerra Gold, more than 410 tons of gold were mined and exported from Kyrgyzstan. «The state did not even have 1 gram of mined gold,» the company stressed.

During this period, the country’s treasury received only $100 million in profits from shareholder income.

«After the transfer of Kumtor gold mine to the state, namely by 2022, only $140 million of equity income remained. In a year, we earned 1.5 times more equity income than the foreign company for 28 years. In addition, there are taxes, social deductions, and other types of income. The most important thing is that all the gold mined is stored in the state treasury as national wealth,» Kyrgyzaltyn OJSC concluded.

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