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Altynken experience is useful for industry, local authorities and communities

August 29, 2019

IBC management got acquainted with the activities of Altynken LLC developing the Taldybulak Levoberezhny gold ore deposit in the Kemin district of the Chui oblast.

“Such large-scale enterprises as Altynken are important not only for the economy of a particular region, but for the whole country as a whole. IBC will continue to maximize the success of such companies and stimulate the creation of favorable conditions for investors in Kyrgyzstan,” said IBC Executive Director Askar Sydykov.

During the working trip held on 28 August, the IBC management got acquainted with the activities of the gold recovery factory, visited administrative buildings, a tailing dump, and a tunnel connecting separate sections of the deposit. The trip participants noted a high level of production automation.

The company not only uses modern technologies but also created comfortable conditions for workers' lives. There are a cozy dining room with tasty and varied food and a good sports ground for team games in the camp.

Altynken General Director Zhang Hua Hui praised the IBC work to protect investor rights and create a favorable investment climate in the country. He also spoke about the company’s priorities. First of all, it is environmental protection and ensuring the safety and labor protection of employees, as well as the smooth operation of the enterprise.

Altynken employs about 900 workers, and more than 90 percent of them are citizens of Kyrgyzstan, with 80 percent directly from the Kemin district.

According to the results of 2018, the company paid tax and non-tax contributions in the amount of 1, 435 billion soms.

The guests and company’s management discussed the possibility of exchanging experience between similar enterprises in the industry, as well as between local authorities and communities from different regions of the country.

It is important that the leaders of local authorities and communities from other regions are convinced from Altynken’s experience that the enterprise not only brings revenue to the state budget but also provides the local population with jobs, paying particular attention to protecting the environment and public health.

Such an exchange of experience will motivate local authorities and communities to support foreign investors.

About Altynken

The Altynken LLC was established on April 5, 2006. The main activity of the company is the extraction, processing and production of gold and other non-ferrous metals at the Taldybulak Levoberezhny gold ore deposit.

According to Kyrgyzaltyn OJSC, the deposit’s gold reserves amount to more than 64 tons.

The state-owned Kyrgyzaltyn OJSC owns 40 percent of the LLC shares, and the Chinese company Superb Pacific Limited, a subsidiary of Zijin Mining, owns 60 percent of the LLC shares.

On July 30, 2015, an official launch of production took place.

In 2019, the company plans to reach full production capacity and increase production to 3.3-3.5 tons per year.