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Kumtor Gold Company receives mine plan approvals

Bishkek (AKIpress) - Kumtor Kumtor Gold Company (KGC) has received the necessary approval of its 2014 mine plan from the relevant Kyrgyzstan’s agencies. Therefore, the company confirmed that Kumtor mine will continue to operate uninterrupted.

According to the National Statistics Committee, Kumtor’s impact on the macroeconomic performance of Kyrgyzstan in 2013 represented 7.7% of the GDP of the country; its share of the industrial output was 24% and gold’s share in the national exports was 36.5%. Kumtor’s contributions for the first three months of 2014 to the national budget in taxes, social fund contributions and other mandatory payments totaled $41 million.

The company employs over 3,000 people of which more than 96% are Kyrgyz citizens. Monthly purchases from local suppliers total approximately $4.8 million per month.


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