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:
The National Environmental Program “Jashyl Oi” has been, for two consecutive years now, implemented by the Youth Initiative Development Fund with the financial support of Kumtor Gold Company. The purpose of the project is to create training centers for the young people of Kyrgyzstan to promote best practices in the field of environmental protection, safety and stability.
Kumtor Gold Company has supported the event “School Year Is Close By” organized by the Public Fund For Protection of Orphaned Children. The purpose of the event is to help orphaned children prepare for the beginning of the new school year. Collection of humanitarian aid among the broad public was organized between August 3 and 27, 2014.
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.