Former Energy Minister O. Artykbaev will head Kyrgyzaltyn JSC
KABAR, January20. Former Energy Minister of Kyrgyzstan Osmonbek Artykbaev has been appointed as chairman of the Board of Kyrgyzaltyn JSC, replacing Tilek Sabyrov. Being a strategic object in gold mining industry, which gives 10% of GDP in Kyrgyzstan, the company remains under the control of the state, 100% shares of this company belongs to the state.
Together with its joint venture partners Kyrgyzaltyn JSC produces more than 97% of gold in Kyrgyzstan. Nearly 10% of gross domestic product, 40% of industrial output and 60% of export of the Republic fall on gold mining. The Kyrgyz Republic ranks third among CIS countries in production of gold.
"Kyrgyzaltyn" JSC was created in 1992 as Kyrgyzaltyn State Concern in order to amalgamate enterprises of the mining industry of the Kyrgyz Republic for maintenance of production of existing enterprises and realization of new gold mining projects.
In the 23rd of July, 1999, "Kyrgyzaltyn" State Concern was reorganized into Kyrgyzaltyn JSC in order to enhance an efficiency of its activity and to implement corporate management principles.