Kumtor's net profit has exceeded $1 bln 77 mln since its transition to state ownership

Net profit of Kumtor exceeded $1 billion 77 million for less than three years since its transfer to state ownership. This was said by the Chairman of the Cabinet of Ministers Akylbek Zhaparov at the meeting of the Jogorku Kenesh, where the report of the Cabinet on the execution of the national budget for 2023 and the draft budget for 2025 and the planning period of 2026-2027 is being considered.

"In the mining sector, thanks to the political will of our President Sadyr Zhaparov, not revolutionary but evolutionary events have taken place - for the first time in 30 years, the economic, national and environmental interests of the Kyrgyz state have actually been protected. For 27 years, 400 tons of gold were produced and only $100 million in dividends were received from Kumtor, and today for 2.5 years, 38 tons of gold were produced and $291 million in dividends were received, while tax and other payments to the budget for three years amounted to $990 million,” Akylbek Zhaparov said.

The head of the Cabinet of Ministers also added that for the first time in the history of the country 1 billion soms was allocated for geological research, and mining enterprises brought the country income of 111 billion soms for three years.

“On the territory of Kyrgyzstan, domestic geologists have discovered more than 5 thousand mineral deposits, the geological and economic potential of our subsoil is hundreds of billions of dollars,” he noted.