“Kyrgyzaltyn” goes for coal due to the lack of gold

​“Kyrgyzaltyn” OJSC has won the auction for geological exploration of brown coal at the Bulak (Eastern) site at the Kok-Moinok deposit, the State Agency for Geology and Mineral Resources at the Government of Kyrgyzstan reports.

The company offered $206 thousand for the site at the start-up payment of $6.965 thousand. “San-resources” and Urakai Coal Co also participated in the auction.

According to “Kyrgyzaltyn”, on September 23rd the company held a meeting dedicated to the issues of foundation of JVs on the basis of 3 branches: Makmalzoloto, Terek-Sai and Solton-Sary mines. We should save “Kyrgyzaltyn”. It is necessary to consider the most beneficial variants of foundation of JVs on the basis of these 3 branches. Investors should be attracted, old equipment needs to be modernized so as in future “Kyrgyzaltyn” would develop well and become a large corporation, the Vice PM V. Dil said.