Gold mining is the main pillar of Kyrgyzstan’s economy; Kumtor gold mine is the largest open pit gold mine having 68,509 tons of proven reserves
Bishkek
For five months of 2023, the supply of Kyrgyz gold abroad amounted to 1.7 tons. Due to which the country received $109.2 million, reports Akchabar.kg.
Over the month, from the end of April to the end of May, the volume of gold exports increased by 334 thousand 933.8 grams, or by 10 thousand 768 ounces. The entire batch went to the United Arab Emirates.
Deliveries of the precious metal to the UAE brought Kyrgyzstan $21.3 million. Based on the statistics, it can be concluded that Kyrgyzstan sold gold to the United Arab Emirates at $1,975 per ounce.
We add that last year at the same time there was no export of gold to the UAE.
According to Eurasian Research Institute, Kyrgyzstan is an energy-rich country with a wide range of minerals. However, the main mineral mined in the country is gold, which has made the gold mining industry one of the pillars of the Kyrgyzstan’s economy. The major gold mine in the country that significantly contributes to the economic development of Kyrgyzstan is the Kumtor gold mine. The Kumtor gold mine is the largest open pit gold mine in Central Asia, having 68,509 tons of proven reserves.
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Courtesy: Central Asian Light (Posted on July 13, 2023)
