BISHKEK - Independent audit firm Ernst & Young (EY) has completed its audit of the financial statements of Kumtor Gold Company CJSC for 2025, the company's first full year of operation under full state control. The audit concluded that the company's financial statements fairly present the financial position as of December 31, 2025, and the results of its operations in all material respects in accordance with International Financial Reporting Standards (IFRS), 24.kg reports.
According to the approved data, the company's revenue for 2025 amounted to $1.434 billion, with net profit at $706 million. Kumtor's contribution to the Kyrgyz economy included tax and mandatory payments totaling $246.5 million, as well as dividend payments of $300 million to the state budget.
During the reporting period, the Kumtor mine produced 12,081 kg of gold. This indicator confirms the company's continued production capacity after the transfer of assets to the Kyrgyz Republic.
Nationalization Context: In 2021–2022, the Kyrgyz government completed the nationalization of the Kumtor mine, previously owned by the Canadian company Centerra Gold. The transfer of the asset to state control was accompanied by legal proceedings and international arbitration. 2025 marked the first full period during which the company operated exclusively within the framework of national law and under the direct management of Kyrgyz entities.
The EY auditor's report confirms that the company has successfully adapted to the new management environment, maintaining the transparency of financial reporting and operational efficiency.
About the auditor: EY (Ernst & Young) is one of the largest international audit and consulting firms with over 175 years of history. It is a Big Four audit firm and consistently ranks third globally in terms of scale. EY employs over 400,000 professionals in more than 150 countries.
Experts note that hiring a world-class auditor to audit Kumtor demonstrates the Kyrgyz side's commitment to ensuring maximum transparency in the management of its strategic asset and strengthening the trust of its international partners.
CentralasianLIGHT.org
April 9, 2026