The president of Kumtor Gold Company, Almazbek Baryktabasov, announced at the MINEX Central Asia 2024 forum that the company’s total gold sales revenue for 2022-2023 reached $1.8 billion. This figure represents a significant increase from the previous year’s revenue of $1.03 billion.
According to Baryktabasov, the company’s gold production for 2022-2023 reached 30.8 tons, with a profit of $674.2 million. The company also paid out $140 million in dividends in 2022 and plans to pay out $151.3 million in 2023.
In 2024, the company plans to produce 12.5 tons of gold. Baryktabasov highlighted the company’s efforts to optimize costs and reduce expenses, including the introduction of an automated system for tracking fuel and lubricants, which saved $17 million in 2023.
The company is also investing in new projects, including the development of the Togolok gold deposit, which has reserves of 17 tons, and the Jangartskaya area, which is located 200 kilometers from the Kumtor mine. Additionally, the company has started a project to extract gold from tailings, which is expected to recover an additional 55-65% of the gold.
Baryktabasov emphasized that the company is committed to developing and implementing new projects, and is working to increase its gold production and revenue.
Source: 24.kg
