Outlook for 2016
● Gold production in 2016 is expected to be 480,000 to 530,000 ounces, or 14.9 and 16.5 tonnes.
● 2016 total capital expenditures, excluding capitalized stripping, are forecast to be $110 million.
● Growth capital investment for 2016 is forecast at $26 million.
● Capitalized stripping costs are expected to be approximately $122 million.
”I am pleased to report that we achieved our production guidance for the full year 2015. We beat our gold production guidance for 2015 due to relatively even quarterly gold production as compared to prior years when the majority of the ounces were produced in the fourth quarter.
Gold production for the full year 2016 at the Kumtor mine is forecast to be 480,000 to 530,000 ounces or 14.9-16.5 tonnes. In 2016, the company expects an increase in gold production in the latter half of the year after we have accessed the high-grade SB Zone in the third quarter of 2016″.
Video about Kumtor:
Interview with N. A. Meshkov, Honoured doctor of the Russian Federation, doctor of Medical Science, Professor (May 2010, Moscow )
The 16th Annual Mine-Rescue Competition was held at the training ground of the Ministry of Emergency Situations of the Kyrgyz Republic on October 15, 2016.
On October 8, 2016, employees of Kumtor Gold Company and partner companies took part in the 14th annual charitable golf tournament held at the Maple Leaf Club.
A group of Kumtor employees visited the Rehabilitation Center for Children with disabilities at Sokuluk on September 23, 2016.
Abdurakhim Mambetaliev, a Kumtor Gold Company employee, took part in the rescue of nine people, five adults and four children, trapped amid a tumultuous river.
The team of Kumtor Gold Company has won 10 medals thus becoming the winner of the Third Tournament held by the Kyrgyz Republic Union of Miners and Metallurgists, an event that took place in the resort Kyrgyzskoye Vzmorye, Bosteri, Issyk-Kul province on September 15-18, 2016.
Kumtor Gold Company has released the Environment and Sustainability Report for 2015.