Akylbek Zhaparov, the Chairman of the Cabinet of Ministers and the Head of the Presidential Administration of the Kyrgyz Republic,  participated in the 11th International Mining Investment Conference ‘MINEX - Eurasia 2023’ during his working visit to London. 

During his address, the Chairman of the Cabinet of Ministers Akylbek Zhaparov, highlighted Kyrgyzstan's potential in the mining sector. He stated that the country has identified over 15,000 deposits and occurrences of various types of minerals, with 500 of them undergoing detailed geological exploration."

"The state balance includes reserves of 1,020 deposits and sites related to 51 types of minerals, such as gold, silver, copper, tungsten, molybdenum, rare-earth metals, antimony, tin, iron ores, lead, and others. The mining industry in our country is developing dynamically and consistently. It accounts for over 6% of total GDP and more than 41% of export revenues,” reported Akylbek Zhaparov.

He also stated that the primary investors in Kyrgyzstan's mining sector are primarily the United Kingdom, the Republic of Türkiye, China, Russia, and Kazakhstan. He added that the mining industry of Kyrgyzstan has the potential to generate annual revenues exceeding 1 billion US dollars and become the driving force of the entire economy.

Furthermore, the Chairman of the Cabinet of Ministers noted that there is a visible need for the development of renewable energy sources and a green economy due to the consequences of climate change.

"In this context, in March of the current year, the European Commission adopted the Critical Raw Materials Act, encompassing 34 minerals, with 17 of them classified as strategic raw materials. It is noteworthy that all 17 of these elements are present in the subsoil of our country, with 10 elements available in significant quantities. For instance, I can mention that the probable reserves of titanium magnetite in just one deposit amount to about 20 million tons, and the reserves of rare earth metals, encompassing 21 elements, exceed 60,000 tons," he stated.

"Additionally, Akylbek Zhaparov, the Chairman of the Cabinet of Ministers, reported that favorable conditions are being created for investors seeking to invest their capital in the development of mineral deposits in Kyrgyzstan."

“Investment agreements with foreign partners are being developed with favorable conditions, providing for various benefits and stabilization regimes. Of course, the history of long-term partnerships in this area is not without controversy. In this context, I would like to note that Kyrgyzstan and the Centerra Gold Company came to a common understanding around the Kumtor project last year. With the signing of all the necessary documents in New York in September last year, our dispute with Centerra Gold was resolved peacefully,” said Akylbek Zhaparov. 

Following the conference a Memorandum of Understanding between the Ministry of Natural Resources, Ecology, and Technical Regulation of the Kyrgyz Republic and Chaarat Gold Holdings Limited, the UK-based company was signed."

"Furthermore, a document on cooperation between the Kyrgyz Geological Survey under the Ministry of Natural Resources, Ecology, and Technical Regulation of the Kyrgyz Republic and the British company MINEX Group Ltd was signed. 

A Memorandum of Understanding between the Ministry of Economy and Commerce of the Kyrgyz Republic and the British company United Concrete Canvas was also signed.