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Kumtor increases volume of purchases from local producers

One of the strategic objectives of Kumtor Gold Company (KGC) CJSC is to increase the share of purchases from local producers. The press service of KGC reported.

According to its data, in 2023 the share of the company’s purchases from Kyrgyzstan’s suppliers reached 39 percent of the total amount of production purchases. In 2022, the indicator was 24 percent, in 2021 — only 16 percent.

Earlier, 75 percent of purchases were imports. In total, deliveries were made from 33 countries, and the number of suppliers reached 558.

Nowadays, food, construction materials, all kinds of services, IT technologies are purchased from domestic suppliers. State companies are involved in scientific development work.

«Last year, by concluding direct contracts with manufacturers and getting additional discounts, the company managed to save $15,086,585. Due to optimization of inventory management, $6,485,204 were saved,» the press service said.

In 2023, at least 62 percent of all concluded contracts were made on postpaid terms, while in 2022 the figure was only 45 percent.