Bishkek, Aug. 27, 2025 /Kabar/. Today, August 27, at the event dedicated to the launch of the underground gold mining project at Kumtor Gold Company, President of the Kyrgyz Republic Sadyr Zhaparov noted: “Kumtor has a great future ahead, it will continue to operate for another 40–50 years for the benefit of the country and in the interests of the people.”
Speech of the Head of State (free translation):
“Dear fellow citizens!
The return of the Kumtor gold deposit to state ownership has become one of the most significant events in the period of Kyrgyzstan’s renewal.
Exactly three years ago, on August 23, 2022, Kumtor’s fate was finally decided in favor of Kyrgyzstan, and it was declared a 100% state-owned enterprise.
On the eve of this historic date, another significant event is taking place at Kumtor today.
We are now at a crucial stage in our consistent strategy to develop Kumtor for the benefit of the people and the state.
Underground gold mining has officially begun at the Kumtor deposit.
This project is a significant step towards safeguarding the environment and preserving our glaciers, which have endured until now.
In fact, this work should have begun 20 years ago.
Instead of mining gold underground, however, the foreign company colluded secretly with former authorities and corrupt officials to choose the cheaper and easier option of open-pit mining, destroying the glaciers in the process.
Former officials sacrificed the glaciers for their own personal gain, to the detriment of the state, leaving a black mark on history.
We lost most of the well-known Davydov and Lysiy glaciers.
However, we could not turn a blind eye to this situation and accept that nothing could be done to rectify the damage caused.
On the day Kumtor was returned to the state, I gave instructions to start an underground gold mining project.
Thus, our specialists began mining the first underground ores independently.
To date, approximately 1,600 metres of tunnels have been dug, and we are ready to mine valuable ores containing more than 5 grams of gold per tonne.
The underground project is expected to operate for 17 years, with geological reserves of 147 tonnes of gold added to the state balance sheet.
The main advantage of underground mining is that it reduces the amount of waste rock that needs to be removed.
Using the open-pit method, 60 tons of waste rock had to be extracted for every ton of ore, which is excessive by global standards.
Open-pit gold mining will, of course, continue at Kumtor alongside underground mining.
However, priority will gradually be given to underground development.
Kumtor has a great future ahead of it and will continue to benefit the country and its people for another 40–50 years.
By the interests of the people, I mean that over the past three years, you have yourselves witnessed the transfer of state-owned mortgage housing to ordinary citizens.
Know that all funds for this construction come directly from Kumtor.
Road construction, schools, kindergartens, increases in salaries, pensions, and allowances, the purchase of military and other modern equipment, in short, all positive transformations taking place in the country are financed from the revenues generated by Kumtor.
When we say that Kumtor has produced a certain number of tons of gold or brought in a certain amount of billions of dollars, some citizens doubt: “Where is this money if we don’t see it?” or even accuse us of “stealing it.”
But those who accuse are accustomed to stealing themselves, and so they judge by their own standards.
Over the past three years, however, the money has genuinely worked for the people.
And from now on, know that Kumtor’s revenues work for the benefit of the people.
Rejoice when you hear about Kumtor’s contributions.
If these operations had begun at least 15 years ago, Kyrgyzstan would be a completely different country today.
All villages, towns, and districts would have long been developed, and the standard of living of the people would be significantly higher.
To ensure my words are not empty, let me provide the facts.
From May 2021 to the present, the enterprise’s total revenue has amounted to USD 3.445 billion.
Kyrgyzstan’s budget has received USD 891.6 million in taxes and other payments.
That’s almost USD 1 billion.
During this period, more than 54 tons of gold were produced.
Over 28 years, while Kumtor was managed by a foreign company, Kyrgyzstan received only USD 100 million in dividends. In the past three years alone, we have already received USD 441 million in dividends.
Take note and compare: in 28 years - USD 100 million, and in 3 years - USD 441 million in dividends!
If in 2012, instead of imprisoning us (remember those years?), we had been able to return Kumtor, the country would have retained over ten billion dollars in revenue since then.
Unfortunately, due to corrupt officials who were hostile to the Kyrgyz state and indifferent deputies at the time, we lost these funds.
What does ten billion dollars mean?
If this money had remained in our country, by now, as people often say, we would have already become the Switzerland of Central Asia.
And even now, it is not too late.
The future ahead will be good.
In addition to underground mining, we will begin processing the tailings storage, which contains over a hundred tons of gold. This will not only generate income but also eliminate an environmental threat.
Furthermore, the Togolok deposit has been fully transferred to Kumtor, and work has already begun there.
Geological exploration at the Zhangart site is also progressing successfully.
Thus, the country’s mining industry is reaching a new level and becoming a key force for the prosperous future of the people.
From now on, all deposits will be used exclusively in the interests of Kyrgyzstan.
When attracting investors, the state’s share and interests will be reliably protected.
Officials who, as before, attempt to give away national wealth for personal gain will not go unpunished.
Sooner or later, they will inevitably be held accountable.
This particularly concerns the Ministry of Natural Resources and the field of geology, remember this.
Thank you for your attention!”