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PM instructs to speed up selection of investor for lossmaking Makmal

The Prime Minister of Kyrgyzstan, Mukhammedkaly Abylgaziev, instructed to speed up preparations for the contest and conduct outreach activities among the local population on the importance of extending the term of Makmal gold field. The press service of the Cabinet reported.

Today, the head of government held a working meeting to discuss the current activities of Kyrgyzaltyn JSC. Mukhammedkaly Abylgaziev noted the strategic nature of the mining industry in the structure of the domestic economy and stressed the importance of developing effective measures to increase its transparency and efficiency.

Chairman of the Board of Kyrgyzaltyn Almaz Alimbekov told that the company’s development strategy had been drawn up. Its main task is to attract investments for the transformation of unprofitable production branches into joint ventures and development of new deposits of precious metals, as well as new service enterprises. The possibility of changing the current management structure of Kyrgyzaltyn OJSC is under consideration.

Almaz Alimbekov told about the future prospects of the gold field Makmal (Makmalzoloto mine). Its reserves are depleted as of today. But the service life of the mine may be extended through attracting investments, by competitive selection.

«We can offer investors the development of technogenic dumps of off-balance ores. There are about 11.2 million tons of ore with 5-6 tons of gold. It is necessary to conduct geological exploration of Vostochnaya and Dioritovaya mines, where, according to forecasts, there are about 14 tons of gold. In addition, we offer investors a promising site for development. This is Makmal tailing dump with approximately 5 tons of gold reserves,» Almaz Alimbekov said.

The Prime Minister, Mukhammedkaly Abylgaziev, noted that the whole process of competitive selection should be held as transparently as possible. Potential investors should also pay special attention to ensuring the social and economic development of the region and the organization of jobs for the local population.

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