Kyrgyzaltyn to Receive $1.3 Million in Dividends from Kumtor
Kumtor Gold Company to Pay $151.3 Million in Dividends to Kyrgyzaltyn
Bishkek – 14:25, 18 April 2024
Kumtor Gold Company CJSC has announced that it will pay Kyrgyzaltyn OJSC $151.3 million in dividends, which is $11.3 million more than the previous year. This news comes as a welcome relief to Kyrgyzstan, as the total income from the gold mining company’s shares for 2022 and 2023 will now amount to $291.3 million.
The increase in dividends marks a significant milestone for the country, as it nearly triples the amount of dividends received from Canadian Centerra Gold Inc. In fact, from 2010 to 2021, the total amount of dividends from Centerra was only $101.7 million.
This development is a positive sign for Kyrgyzstan’s economy and demonstrates the valuable contribution that the mining industry can make to the country’s financial stability. The partnership between Kumtor Gold Company and Kyrgyzaltyn OJSC highlights the importance of collaboration between international companies and local organizations in driving economic growth and prosperity.
As Kyrgyzstan continues to navigate challenges and opportunities in the global market, the success of Kumtor Gold Company serves as a beacon of hope for the future. With this substantial payment in dividends, the country can look forward to further financial stability and growth in the years to come.
