In less than three years since the Kyrgyz government took control, Kumtor’s net profit has exceeded $1.77 billion. This was announced by Prime Minister Akylbek Japarov during a session of the Jogorku Kenesh (Parliament) as lawmakers reviewed the government’s report on the national budget for 2023.
Japarov highlighted the significant progress in the mining sector, which, under the political leadership of President Sadyr Japarov, has seen not revolutionary, but evolutionary changes. For the first time in 30 years, Kyrgyzstan’s economic, national, and environmental interests have been effectively protected. Over the past 27 years, Kumtor produced 400 tons of gold but only contributed $100 million in dividends. In contrast, in just 2.5 years since the government’s takeover, the project has produced 38 tons of gold and generated $291 million in dividends. In addition, taxes and other payments to the national budget have amounted to $990 million over the past three years.
Furthermore, Japarov noted that for the first time in Kyrgyzstan’s history, 1 billion soms have been allocated for geological research, and mining enterprises have contributed 111 billion soms to the country’s economy over the last three years.
