Outlook for 2014
● Gold production in 2014 is expected to be approximately 550,000 to 600,000 ounces or 17.1 to 18.7 tonnes.
● Approximately 50% of gold production is expected to occur in the fourth quarter.
● The projected capital expenditures, excluding capitalized stripping, are estimated to be $85 million.
● Capitalized stripping costs in the Central Pit are expected to be approximately $191 million.
Michael Fischer, President of KOC and KGC, stated, “We are delighted to state that despite all the problems, the 2013 gold production guidance was achieved. In 2014, the planned mining sequence at Kumtor will be very much the same as it was in 2013 with approximately 50% of Kumtor’s gold production occurring in the fourth quarter. Nevertheless, we should maintain the current high pace of work, and I am certain that we’ll achieve successfully the planned gold production guidance of 550,000 to 600,000 ounces.”
Video about Kumtor:
Kumtor Gold Company starts a new type of monitoring on the road, leading to the mine. Ninty kilometers long road passes through the Barskoon village of Djeti-Oguz district.
Issyk-Kul farmers will be taught to produce dried-fruit using innovative equipment under a pilot project launched by Kumtor Gold Company, an initiative thought to be translated into life in cooperation with local youth organizations and associations.
On August 12-19, 2014, Kyrgyzstan is marking International Youth Week (IYW) under the slogan “I’m Man! Mental health is a human right” organized by UN Volunteers (UNV), the Ministry of Labor, Migration and Youth, Football Federation of the Kyrgyz Republic, and others.
A second annual fruit-and-berry Festival, Karagat Fest, took place last Saturday, Aug. 9, in the village of Kyzyl-Suu, Jety-Oguz district Issyk-Kul province. A festival devised to promote natural products of Issyk-Kul is organized by AVEP Public Foundation under the KGC-sponsored program, Karagat Plus.
Twenty Jety-Oguz and Ton schools are providing a series of vocational guidance and computer trainings for high school teachers and senior students. This project, for the second time this year, was sponsored by Kumtor Gold Company.
Centerra Gold Inc. (Centerra) and Kumtor Gold Company have summed up the operating results of the 2nd quarter of 2014. In the first six months of 2014, the Kumtor mine produced 180,793 ounces or 5,623 kg of gold. The Company has contributed more than 3 billion soms in taxes and mandatory payments.