Kumtor is operating in a stable and routine manner

Kumtor is operating in a stable and routine manner

published: 21 September 2022

On August 23, 2022, by the Order No. 446-r of the Cabinet of Ministers of the Kyrgyz Republic, the external management procedure at the Kumtor Gold Company (KGC) was terminated. On the same day, by decisions of the sole KGC shareholder, Kyrgyzaltyn JSC, the Company’s Board of Directors and Management Committee have been formed.

Mr. Almazbek Baryktabasov was elected as the KGC President and Management Committee Chairman and Mr. Bolotbek Idirisov was appointed as the Chairman of the Board of Directors. Chairman of KR Cabinet of Ministers Mr. Akylbek Japarov officially introduced the new KGC management to the Company staff.

Mr. Almazbek Baryktabasov has a vast experience in the mining industry gained over many years. He joined Kumtor in 1997 and has climbed every step of the career ladder starting as a HD equipment mechanic to the Mine Maintenance Manager.

An informal meeting of the Company President Almazbek Baryktabasov with the workforce took place a few days ago. This direct and open dialogue between the management and workers is essential for solution of operational and social issues. Such meetings will take place on a regular basis from now on.

 – Since the Company now fully belongs to the state, we all carry a huge responsibility. Of course, each of you is expecting positive changes and hoping for better. I promise to apply my best efforts to meet your expectations. I am certain that together we will achieve all the goals set for us by the President and Government, – stated KGC President Mr. Almazbek Baryktabasov.

With the withdrawal of the temporary management and establishment of permanent management bodies, KGC must become the flagship of Kyrgyzstan’s economy and country’s leading company, not just in statements, but in reality. The key goals are safe, timely and quality work and increase of efficiencies.

– It’s in our best interests to make sure that Kumtor works effectively and without interruptions and that all employees are protected. Proceeds to the national budget depend on our gold production and sales. Naturally, these funds will then be used to increase salaries for teachers and other categories of workers, retirement pensions and social benefits, – highlighted Mr. Umbetaly Kadyraliev, member of KGC Board of Directors.

Today, Kumtor and contractor companies employ over 4 thousand people. The ongoing audits will not affect the operations. The Mine operates in a stable and routine manner. Confidence in the professionalism of employees and management allows the company to move forward, overcome challenges and achieve targets.