NUMBERS OVER RUMORS: KGC’S NET PROFIT IN 2025 EXCEEDED USD 706 MILLION

published: 13 March 2026

Recently, certain individuals have been actively claiming that production at the Kumtor mine has declined and that the cost of the gold produced has increased.

In this regard, Kumtor Gold Company considers it necessary to clarify the data on the volume of gold produced in 2025, its production cost, and other aspects of the Company’s production and financial performance.

It should be noted that in recent times, the conditions for conducting mining operations at the Kumtor mine have become more challenging, which complicates the extraction of gold.

In addition, the increase in the cost of gold production is associated with well‑known geopolitical events of recent years, which have led to price increases for:

— fuel and lubricants — by 50%

— reagents and chemicals — by 70%.

Due to complicated logistics and an increase in transportation costs by 106.4%, the cost of spare parts for heavy mining and auxiliary equipment has risen by 30%. Previously, cargo that used to be delivered in three weeks now arrives in three months. Furthermore, in recent years, the cost of electricity supplied to the mine has increased by 92%.

Taking all of the above factors into account, in 2025 the production cost of gold (including all expenses, taxes, and other payments) amounted to USD 1,884 per ounce. In total, 388,418 ounces, or 12,081 kg, of gold were produced over the past year.

At the same time, the minimum gold selling price at the beginning of 2025 was USD 2,882.7, while the maximum price reached USD 4,612.95 at the end of the year. The average selling price amounted to USD 3,711.

The Company’s revenue for 2025 totaled USD 1,434.6 million, and net profit reached USD 706.081 million.

A total of USD 246.507 million was paid in taxes and other mandatory payments.