Kumtor Operating Company Will Pay More Than US $37 million In Reclamation Expenses for the Kumtor Mine
published: 20 July 2012
Over US $9 Million Has Already Been Transferred to the Reclamation Trust Fund
In 2011, KOC transferred US $1.7 million to the Reclamation Trust Fund of the Kumtor mine. The Reserve was constituted pursuant to a Security Trust Deed of January 25, 1996, between Kumtor Gold Company, Rothschild Trust Corporation and Trust Fund Investor located in London (England). Currently, an issue of place Trust Fund in a finance-credit establishment located in Kyrgyzstan is discussed.
The Fund’s resources will be used to:
• meet regulatory requirements established by the Kyrgyz Republic for the Kumtor Project.
• ensure geotechnical stability.
• ensure health protection for the communities after closure.
• bring the land back to its former use.
The Annual Environmental Report is available here.
Kumtor Gold Company provides jobs for over 4000 people.
99 percent of the Company full-time employees are Kyrgyz citizens, and this proportion is ever growing as the result of foreign managerial personnel being gradually replaced by national employees.
WORKFORCE
As of 29.02.2024, according to the HR management system, the Kumtor Gold Company has
3 333
Full-time
employees
16
Expatriate specialists
3 317
Citizens of the Kyrgyz Republic
Latest news
- THE PRESIDENT OF KGC ALMAZBEK BARYKTABASOV HAD MET WITH KUMTOR MINE EMPLOYEES
- AKYLBEK ZHAPAROV GOT ACQUAINTED WITH THE WORK OF THE TIRE RECOVERY AND RECYCLING PLANT IN TOKMOK CITY
- “KUMTOR GOLD COMPANY CJSC”: NET PROFIT FOR 2023 AMOUNTED TO $302.4 MILLION COMPARED TO THE PLAN OF $194.0 MILLION
- THE PRESIDENT OF THE KUMTOR GOLD COMPANY CJSC ALMAZBEK BARYKTABASOV: “UNDERGROUND MINING WILL INCREASE GOLD PRODUCTION”
- ACTIVE DEVELOPMENT OF THE DEPOSIT CONTINUES IN TOGOLOK