Kyrgyzstan’s gold mine finds additional 147 tons of reserves
BISHKEK, Kyrgyzstan (MNTV) — Kyrgyzstan’s Kumtor Gold Company has identified an additional 147 tons of gold through recent geological exploration, bringing total reserves to 261 tons. The discovery reinforces projections that gold extraction in the country could continue for decades.
The announcement was made by Minister of Natural Resources Meder Mashiev during a press briefing in Bishkek. Previously, unexploited reserves at Kumtor were estimated at 127 tons, but new data suggests a longer operational future for the state-run enterprise.
Kumtor was nationalized in 2022 after Canadian firm Centerra Gold withdrew from the project. At the time, experts predicted the mine would shut down by 2027 due to declining reserves and the economic challenges of developing new sites. Gold yields have also dropped significantly—from 5 grams per ton in 2015 to less than one gram today—raising concerns over the mine’s long-term viability.
According to official figures, Kumtor produced 17.3 tons of gold in 2022, followed by 13.5 tons in 2023 and a projected 12.2 tons in 2024. The last time production fell below 10 tons was in 2012, when the company cited falling global gold prices and limited profitability.
Under the 2022 agreement with Centerra, Kyrgyz authorities took full control of Kumtor. The Canadian firm paid $60 million for environmental protection and transferred a $53 million reclamation fund, in exchange for being released from future obligations.
In an interview with The Times of Central Asia, geologist Rozalia Djenchuraeva stated that with proper management, Kumtor could continue operating for another century. “Gold is not running out,” she said. “In the 1980s and 1990s, studies estimated over 1,000 tons of gold in the region. The key is to extract it responsibly.”
However, much of the remaining gold lies beneath glaciers, making environmentally safe extraction difficult. “The high-altitude ecosystem is extremely fragile,” Djenchuraeva warned. She believes that modern mining technology could allow for sustainable extraction, but only if strict environmental measures are followed.
Despite challenges, Kumtor remains Kyrgyzstan’s largest gold mining operation, playing a crucial role in the national economy.
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