Kyrgyzaltyn OJSC is the biggest domestic company of the Kyrgyz Republic, specializing in the development of gold deposits, founded on October 15, 1992, as State Consortium Kyrgyzaltyn intended to unite mining companies of the Kyrgyz Republic to maintain operations of the existing companies and to implement the new gold projects.
In accordance with Decree of the President of the Kyrgyz Republic No. УП-175 dated July 23, 1999, «On reorganization of the Kyrgyz State Consortium Kyrgyzaltyn in order to ensure the transparency and improvement of the management structure, State Consortium Kyrgyzaltyn was reorganized by transformation into Kyrgyzaltyn Joint Stock Company.
Currently the Company, together with the joint venture partners, is producing more than 97% of the Kyrgyzstan’s gold. Gold mining accounts for about 10% GDP of the Republic, 40% of industrial production and 60% of exports. The Kyrgyz Republic is ranked to be the third among CIS countries on gold production.
Mission of Kyrgyzaltyn OJSC – to focus on production of precious metals with minimal costs.
Strategic goal is to achieve the maximum generation of profits for the Company, providing the:
increase in gold production and profitability;
expansion and replenishment of the mineral resource base of companies and ensuring commercial reserves;
high level of gold production efficiency;
sustainable development of Kyrgyzaltyn OJSC companies investing in modernization and technical re-equipment;
implementation of metals extraction technology from production wastes.
State-owned shareholding is 100%, the shareholder is the State Property Management Fund of the Kyrgyz Republic.
The structure of Kyrgyzaltyn OJSC composes the production branches:
Refining Factory Factory;
Kyrgyzskoe vzmorye health resort;
Motor transport enterprize;
Kyrgyzaltyn — Kurulush;
Besides, Kyrgyzaltyn OJSC is a shareholder, participant and has an interests share in the following legal entities:
Centerra Gold Inc. — 32,96% share;
Altynken Ltd — 40% of the authorized capital size (capital contribution is 4,000 KG soms). Established on April 5, 2006, for the purpose of the development of the Taldybulak Leftsided gold deposit and exploration of the licensed area.