Kumtor Brought Kyrgyzstan Over $5 Billion in Five Years Under State Management

Since 2021, when Kyrgyzstan regained control of the Kumtor mine, the company's revenues have exceeded $5 billion — according to the Kabar news agency, citing a new interview with President Sadyr Japarov.

According to Japarov, decisions regarding Kumtor were risky and required a high degree of responsibility from the country's leadership. The president disclosed previously unreported details of the mine transfer process: in particular, industry specialist Tenzhi Bolturuk was brought in and given full trust as a professional in the field. Then-Prime Minister Ulukbek Maripov, according to Japarov, acted under pressure stemming from the risks of international legal proceedings.

Experts interviewed by Kabar point out that the success of the takeover was ensured by the convergence of four factors — political will, decisiveness, trust, and favorable circumstances.

Revenues from the mine, which passed under state management, have allowed Kyrgyzstan to launch the largest infrastructure projects in the country's history and to carry out political and economic reforms, Kabar notes.