News / IBC news /
Altyn Alliance joins International Business Council

August 7, 2019

On August 7, 2019, the signing ceremony of the agreement on the entry of Alliance Altyn LLC into the International Business Council took place.

It is an honor for the company to be a member of the business council, representing the interests of the investors in government bodies and the public, General Director of Alliance Altyn Mikhail Shubin said.

“The Alliance Altyn company has been working on the implementation of the Jerooy project for the fourth year and there are just a few steps from the goal — the start of mining operations. For all this time, we have made a significant contribution both to the state economy in the form of tax and investment contributions, and to the development of the socio-cultural sphere. Having joined IBC, we intend to reach a new level of relations with the business community,” Shubin said.

The Jerooy project is very important not only for the mining industry, but also for the entire economy of Kyrgyzstan, IBC Executive Director Askar Sydykov said.

“For our part, we will try our best to help launch this enterprise and its further operation. Our association unites the largest investors in the country, including in subsoil use. We are very pleased to welcome Altyn Alliance as a new member of our organization,” Sydykov said.


The Jerooy deposit is the second largest gold deposit in Kyrgyzstan with proven reserves of more than 100 tons of gold. Its share in investments in the mining sector of the country is about 40%. The amount of contributions from the project to the budgets and extra-budgetary funds of the Kyrgyz Republic will be about $540 million including more than $110 million to the development funds of the Talas oblast.