THE 2024 REVENUE OF KUMTOR GOLD COMPANY REACHED OVER USD 989 MILLION

published: 25 April 2025

Kyrgyzaltyn Open Joint Stock Company has reviewed and approved the 2024 operational report of Kumtor Gold Company Closed Joint Stock Company.

Buzurman Subanov, Chairman of the Board of Kumtor Gold Company, said that the 2024 revenue from the gold sale amounted to USD 989.1 million against the planned USD 739.3 million.

“The total tons mined at the Kumtor Mine last year amounted to 189.1 million against the planned 180.3 million. 12 tons 552 kg of gold was produced against the planned 12 tons 509 kg. As of 2024, the Company paid taxes and mandatory payments to the budget of the Kyrgyz Republic in the amount of USD 184.8 million or KgS 16.1 billion against the planned USD 177.5 million. The Company’s net profit for the year amounted to USD 397.4 million against the planned USD 186.8 million,” said Buzurman Subanov.

During the Annual General Meeting of Shareholders, Kubat Abdraimov, Chairman of the Management Board of Kyrgyzaltyn, stated: “This year, we are facing even more important objectives, the timely implementation of which will require increased mobilization of our efforts and resources. In 2025, emphasis should be placed on the implementation of projects such as underground mining at the Kumtor Mine, development of the Togolok deposit and continued geological exploration at the promising Dzhangart area. In addition, it is essential to launch the project for gold extraction through reprocessing of historical tailings from the Tailings Storage Facility.”

During the meeting, Kubat Abdraimov emphasized that, given the objectives facing the enterprise, special attention must be given to ensuring safety at the Kumtor Mine. This includes providing additional training for employees and conducting inspections of the activities of structural subdivisions.

For reference: Kyrgyzaltyn Open Joint Stock Company is the sole shareholder of Kumtor Gold Company Closed Joint Stock Company with 100% interest.