Gold Price USD 1257.50 /oz (AIM:CGH)21.13p

Gold Mining in the Kyrgyz Republic

Mines dating back to ancient times have been found in the Kyrgyz Republic. Mining is the largest industry in the Republic, with the gold industry contributing half of industrial output and 60% of export revenues.

Industrial gold mining started in the Kyrgyz Republic in 1986 at the Makmal deposit. In 1996 the development of the Kumtor gold deposit, the largest in Kyrgyzstan, began. In 2016 the project produced 551,000 ounces of gold and contributed 8% of the Kyrgyz Republic’s GDP and had a share of 23.4% in the Republic’s aggregate industrial output.

Central Asia, like other areas of the world, is facing declining output at several of its largest mines and the Kyrgyz Government is eager to encourage new projects like Chaarat.

GOLD PRODUCING MINES IN THE KYRGYZ REPUBLIC
First Gold Pour Owner Location
Kumtor 1997 Centerra (Canada), Kyrgyzaltyn* Central
Makmalzoloto 1986 Kyrgyzaltyn* Central
Solton Sary 1994 Kyrgyzaltyn* Central
Tereksay Pre-1990 Kyrgyzaltyn* Northwest
Taldybulak Levoberezhny 2015 Zijin (China), Kyrgyzaltyn* North
Bozymchak 2016 KAZ Minerals (Kazakhstan) Northwest
Ishtamberdy 2016 Full Gold Mining (China) Southwest
Sources: State Committee for Energy, Industry, and Subsoil Management, Kyrgyzaltyn
* Kyrgyzaltyn is an SOE that holds the government’s stakes in gold mines and is charged with raising investment for the sector.
GOLD MINES IN DEVELOPMENT IN THE KYRGYZ REPUBLIC
Owner Location
Kuru Tegerek China National Gold Corp., Kyrgyzaltyn* Northwest
Chaarat Chaarat Gold Holdings (BVI) Northwest
Borubai Kenadyr Mining (Canada) North
Shiraljin Altyn Kumushtak Mining (Kazakhstan) Northwest
Shambesai Guizhou Geological and Mineral Resources Development Co., (China) Southwest
Unkurtash Highland Gold (Russia) Northwest
Sources: State Committee for Energy, Industry, and Subsoil Management, Kyrgyzaltyn
* Kyrgyzaltyn is an SOE that holds the government’s stakes in gold mines and also is charged with raising investment for the sector.