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Kyrgyzstan prohibits the exportation of gold ore and concentrate from 2012

Tuesday 23 August 2011

BISHKEK (KirTAG) – Kyrgyzstan prohibits the exportation of gold ore and concentrate from 2012. This was reported KirTAG head of a major business of the Ministry of Economic Regulation, Emil Orozbekov Friday.

“Some companies take out gold ore and concentrates containing gold for further processing in other countries. For example, in Kazakhstan or Russia. Since 2012 Kyrgyzstan will introduce a ban on the export of ore and increase the export duty for concentrates containing gold,” said E. Orozbekov. According to him, Kyrgyzstan has no experience in handling this ore and concentrate, “so many entrepreneurs are taken material abroad, thereby missing the benefit of added value.”

According to him, it will last as long as “small businesses and those that operate on the basis of the Terek-Sayskogo gold deposit, owned by OAO Kyrgyzaltyn do not build the appropriate processing factories.”

“And yet from such activities, the Republic loses control over accounting and the movement of mined and processed raw materials, thus expanding the black market of precious metals, negatively affecting the replenishment of the budget and economic situation in the country as a whole,” added the head of the department.

To date, the Republic of Kyrgyzstan more than 100 mining companies engaged in the study and development of indigenous and placer gold deposits.

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