Published
04/09/2026, 12:46The Chairman of the Cabinet of Ministers of the Kyrgyz Republic and Head of the Presidential Administration, Adylbek Kasymaliev, familiarised himself with the activities of the open joint-stock company ‘Kyrgyzaltyn’.
Kubat Abdraimov, Chairman of the Board of JSC “Kyrgyzaltyn”, presented information on the activities of the company’s branded shop selling gold bars. By the end of the year, the shop’s revenue exceeded 855 million KGS, which indicates high demand for gold bars and confirms the effectiveness of this business line.
It should be recalled that in August 2024, following an instruction from the President of the Kyrgyz Republic, Sadyr Zhaparov, a plant for the production of standardised gold bars was launched. In less than a year, the project demonstrated high efficiency and fully recouped the investment of 320 million KGS made in modern production equipment.
In addition, Prime Minister Adylbek Kasymaliev familiarised himself with the work of the company’s operations centre, which meets modern requirements and international standards. This centre ensures operational control and effective management of production processes at a high level.
After watching a video presentation on the general activities of Kyrgyzaltyn JSC, Adylbek Kasymaliev took part in the organisation’s annual general meeting. The meeting heard reports on the company’s key performance indicators for 2025, the results of management reforms and measures taken to optimise the organisational structure.
In particular, by the end of 2025, the company had achieved record financial results: net profit stood at 18.7 billion KGS, and total revenue at 20.7 billion KGS. Currently, the structure of Kyrgyzaltyn OJSC comprises 2 branches, 13 subsidiaries and 4 joint ventures. Kyrgyzaltyn OJSC plans to implement a number of strategically important projects over the next three years, totalling more than $1 billion. These include projects to develop the Unkur-Tash, Togolok, Chakush, Taldybulak and Andash deposits. In addition, the company is actively working on the processing of waste from the Kumtor mine.
During the meeting, Prime Minister Adylbek Kasymaliev delivered a report on the state’s general policy in the gold and mining sectors and issued a number of instructions.
Adylbek Kasymaliev noted that, thanks to the firm political will of President Sadyr Zhaparov, significant results have been achieved in the country’s development, including in the activities of the company ‘Kyrgyzaltyn’.
“I will cite the latest data on Kumtor’s share in industry. In February 2026, GDP growth stood at 8.8%. Within industry, growth of 18.7% was recorded, representing gross output of 147.8 billion KGS; excluding Kumtor, this figure stands at 88.2 billion KGS. If this figure is excluded, Kumtor’s share of the industrial sector amounts to 59.6 billion KGS, or 22.6% of February’s GDP. Accordingly, Kumtor has had a direct impact on the growing activities of ‘Kyrgyzaltyn’ over the past five years,” he said. Adylbek Kasymaliev also noted the need for close cooperation with higher and secondary vocational educational institutions in the mining sector.
Prime Minister Adylbek Kasymaliev added that the mining sector contributed 65.4 billion KGS to the budget in 2025, whilst the price of gold also doubled.
