The
"Kyrgyzaltyn" Open-End Joint Stock Company is the largest company of
the Kyrgyz Republic specializing in development of gold deposits.
"Kyrgyzaltyn" JSC was created in 1992 as
Kyrgyzaltyn State Concern in order to amalgamate enterprises of the
mining industry of the Kyrgyz Republic for maintenance of production of
existing enterprises and realization of new gold mining projects.
In the 23rd of July, 1999, "Kyrgyzaltyn" State
Concern was reorganized into Kyrgyzaltyn JSC in order to enhance an
efficiency of its activity and to implement corporate management
principles.
Together with its joint venture partners
Kyrgyzaltyn JSC produces more than 97% of gold in Kyrgyzstan. Nearly
10% of gross domestic product, 40% of industrial output and 60% of
export of the Republic fall on gold mining. The Kyrgyz Republic ranks
third among CIS countries in production of gold.
At present in the composition of Kyrgyzaltyn JSC are seven affiliates:
- The "Makmal Gold Combinate" affiliate;
- The "Tereksai Mine" affiliate;
- The "Solton-Sary Mine" affiliate;
- The "Refinery" affiliate;
- The "Motor Transportation Enterprise" affiliate;
- The "Special Construction Manufacturing Enterprise" affiliate;
- The "Kyrgyzskoye Vzmorie" health resort;
in the composition of Kyrgyzaltyn JSC are also:
- A jewelry shop and jewelry store;
- A medical center; and
- A hotel.
The recent revival of gold market allowed
Kyrgyzaltyn JSC to carry out work for improvement of existing and for
creation of new gold mining enterprises.
Kyrgyzaltyn JSC represents the Kyrgyz party in
Centerra Gold Company (Kumtor deposit) and in the joint ventures such
as Altynken LLC (Taldy-Bulak Levoberezhny), Jerooyaltyn CJSC (Jerooy
deposit), Buchuk Gold LLC (Buchuk area of the Solton-Sary deposit),
Alryn-Tor Gold LLC (geological exploration area round the Altyn-tor
area of the Solton-Sary deposit), Tohtazan LLC (TGMC at the liquidation
stage).
Important strategic tasks of Kyrgyzaltyn JSC are as follows:
- development of raw material base, a full complex usage of gold deposits;
- Rational use of productive potential;
- development of foreign economic relations;
- arrangement of conditions for social development of work collectives;
- development of social infrastructure at deposits;
- Provision of safety and environmental protection, etc.
At present Kyrgyzaltyn JSC is developing
dynamically, and, actually, almost all earnings are being invested into
expansion of production and mining of deposits.
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