Kumtor Gold Company received a license to develop the Togolok deposit. Almaz Baryktabasov, President of KGC, announced this on the air of Birinchi Radio.
According to him, the license was obtained last week.
“Our working group is already working, a work plan will be ready by the end of this year. We will start work on the first stage,” Baryktabasov said.
Earlier it was reported that the Cabinet of Ministers of the Kyrgyz Republic, by its resolution, allowed exploration at the Togolok site in the Jeti-Oguz district of the Issyk-Kul region of the Kyrgyz Republic. Its area is 42.2 hectares, and gold reserves are estimated at 17 tons 367 kilograms. In addition, the Cabinet of Ministers also gave the green light to the development of the Zhangart tract, with an area of 10,379.8 hectares.
On August 9, Kumtor Gold Company announced a tender for the development of a project for geological exploration at the Togolok gold deposit and a project for geological exploration for gold within the Dzhangartskaya area.
The Kumtor Gold Company (KGC) is developing the Kumtor deposit in the Issyk-Kul region. In 2021, the government of Kyrgyzstan took over the management of the Kumtor mine, previously developed by Canadian Centerra Gold Inc. In April 2022, the authorities of the Kyrgyz Republic reached a consensus with a foreign company and came to an agreement on the waiver of mutual claims, as well as the settlement of disputes. Thus, Kyrgyzstan transferred to Centerra Gold 26% of its shares, which it owned, and abandoned its environmental and economic claims. And 100% of the Kumtor Gold Company completely passed to the Kyrgyz Republic.
