BISHKEK, Kyrgyzstan, August 27. Kyrgyz President Sadyr Zhaparov has launched an underground gold mining project at the Kumtor Gold Company during his working trip to the Issyk-Kul region, Trend reports via the presidential administration.
Zhaparov highlighted that the return of the Kumtor deposit to state ownership was one of the most significant events in the country’s recent history. He stressed that the start of underground mining marks an important step toward protecting the environment and preserving glaciers.
According to the president, about 1,600 meters of tunnels have already been developed, and Kumtor is ready to extract high-grade ores with a gold content of more than 5 grams per ton. The underground project is expected to operate for 17 years, with reserves of 147 tons of gold placed on the state balance.
The president noted that domestic specialists are carrying out the work and that underground mining reduces the excessive removal of waste rock compared to open-pit methods. Alongside underground extraction, open-pit mining will continue, but priority will gradually shift to underground operations.
The president also emphasized Kumtor’s vital role in financing national development, noting that since May 2021, the company’s revenue has reached $3.45 billion, with $891.6 million transferred to the state budget in taxes and other payments. Over this period, more than 54 tons of gold have been produced, while dividends to the state have reached $441 million in three years, compared to only $100 million during 28 years of foreign management.
Zhaparov further announced plans for processing tailings, which contain significant gold reserves, as well as development of the Togolok deposit and continued geological exploration at the Jangart site.