Sign in Subscribe
Mining industry

Direct Investment in Kyrgyzstan's Geological Exploration Reaches Record High in 2005

Strategic Insights

— 1 min read

A significant boost in foreign investment in Kyrgyzstan's geological exploration and extractive mining sectors has been reported for 2005. According to Vladimir Zubkov, head of the State Geology and Mineral Resources Agency, direct investment totaled 2,245 billion som, equivalent to $US54.5 million. The increased spending is attributed to the country's rich mineral resources, including gold, nonferrous metals, and oil and gas. Notable foreign investors, such as the Kumtor Gold Company, Chaarat ZAAV, and Barrick Gold Kyrgyzstan, have contributed substantially to the country's exploration efforts.

Key Takeaways:

  • Direct investment in geological exploration and extractive mining in Kyrgyzstan reached 2,245 billion som ($US54.5 million) in 2005.
  • Exploration spending totaled 1,278 billion som ($US31.0 million) last year, with 967.7 million som ($US23.5 million) invested in extractive sectors.
  • Foreign investment accounted for 2,062 billion som, while domestic investment contributed 182.9 million som.
  • Notable foreign investors, including the Kumtor Gold Company and Chaarat ZAAV, have committed significant funds to exploration efforts.
  • The activity of foreign companies investing in exploration in Kyrgyzstan is forecasted to double this year, based on development plans submitted to the Resources Agency.
  • Exploration conducted by the Kumtor Operating Company has increased gold reserves and resources for open-cast and possibly deep mining at the central section of the Kumtor deposit.
  • The extended life of the mine is expected to reach at least 2013, from the previously expected 2009.

Statistics:

  • Direct investment in geological exploration and extractive mining in Kyrgyzstan: 2,245 billion som ($US54.5 million)
  • Exploration spending in 2004: 1,278 billion som ($US31.0 million)
  • Investment in extractive sectors: 967.7 million som ($US23.5 million)
  • Foreign investment: 2,062 billion som
  • Domestic investment: 182.9 million som
  • Oil and gas exploration: 138 million som
  • Gold exploration: 1,129 billion som
  • Exploration for other mineral resources: 10.5 million som
  • Oil and gas production: 144.2 million som
  • Gold mining: 423.9 million som
  • Nonferrous metals mining: 149.5 million som

Sources:

  • "State Geology and Mineral Resources Agency head: Direct investment in geological exploration and mining sectors totaled 2,245 billion som in 2005." Interfax, 10 April 2006.
  • "Kyrgyzstan: Gold mining to double in 2006." TCA, 10 April 2006.

Read more