Preliminary Outlook for 2015
● Gold production in 2014 is expected to be between 470,000 and 520,000 ounces, or 14.6 and 16.2 tonnes.
● 2015 total capital expenditures, excluding capitalized stripping, are forecast to be $75 million.
● Growth capital investment for 2015 is forecast at $26 million.
● Capitalized stripping costs in the Central Pit are expected to be approximately $185 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:
A group of students of American University in Central Asia (AUCA) made a trip to the Kumtor mine over the weekend. All of them are scholarship-holders of the US Central Asia Education Foundation and students of the Economics and Business Administration departments.
Kumtor Gold Company announces that effective January 20, 2015, Daniel Desjardins is appointed as KGC President to replace Michael Fischer.
Centerra Gold Inc. (Centerra) and Kumtor Gold Company announce that they met their 2014 annual production guidance.
We are offering you December issue of the corporate newsletter, In touch
Happy New Year! May health, prosperity, happiness and luck accompany you in 2015!
Kumtor Gold Company distributed 2,000 New Year gifts this week to children of Jety Oguz and Ton districts, as well Balykchy and Karakol towns of Issyk-Kul Region.