Kumtor reports on mining of low-grade gold ore

According to experts, low-grade gold ore mining at Kumtor will continue for some time. Kumtor Gold Company CJSC reported.

According to the company, a decrease in planned gold mining figures is not uncommon and is caused by the low gold content in the commercial ore mined at Kumtor mine.

«For example, in 2002 it was planned to produce 20,860 kilograms of gold, but 16,439 kilograms were actually produced (4,421 kilograms less than the plan). In 2006 it was planned to mine 14,336 kilograms, but 9,442 kilograms were actually mined. The gap is 4,894 kilograms of gold. In 2012, it was planned to extract 19,286 kilograms of gold, but in the end 9,805 kilograms were extracted. There was a shortfall of 9,481 kilograms to the established plan,» Kumtor Gold Company CJSC reported.

In 2023, Kumtor Gold Company sold 13,577 kilograms of gold with a plan of 14 tons.

«According to specialists, extraction of ore with a low gold content will continue for some time. In the future, a gradual increase in gold extraction is expected and the figures will reach 17-18 tons of gold, taking into account the implementation of underground gold ore mining projects and the processing of spent ore from the tailings dump. In 2024, Kyrgyzaltyn OJSC plans to extract and sell 12.5 tons of gold,» the company noted, adding that all information of interest about the enterprise is posted on the official website, and the results of production activities are published once a year, in the first quarter, in three languages ​​at once: Kyrgyz, Russian and English.

«Kumtor Gold Company’s revenue from production activities in 2023 amounted to $849 million with a plan of $734.2 million. Net profit for the year amounted to $302.4 million with a plan of $194 million. At least 17,241,071 billion soms were paid to the republican budget in the form of taxes and other payments. Dividends were paid in the amount of $151.3 million,» Kumtor Gold Company reported.