Send message to Author

Abstract:

The mining industry plays an important role in the economy of the Kyrgyz Republic, accounting for more than 10% of the country's GDP, providing more than 43% of industrial production and about 50% of the country's exports. The work explores the contribution of this industry to the development of the country and its economic stability. The mining industry is based on mineral resources, represented by large proven reserves of gold, tin, antimony, mercury, rare earth metals and other minerals. One of the most important resources is gold. Kyrgyzstan is known for its rich gold deposits, which attract investors from all over the world. Kumtor is the largest geological discovery and operating gold mine in Kyrgyzstan. Gold mining makes a significant contribution to the country's economy. Gold accounts for 90% of the country's total mineral production and is its main export product. Besides gold, Kyrgyzstan is also rich in rare metals such as tungsten, copper and molybdenum. These resources are of strategic importance to many industries, including electronics and automobile manufacturing. The mining industry in Kyrgyzstan contributes to the creation of new jobs and the development of other related industries, such as mechanical engineering and industry. Kyrgyzstan also has coal and oil reserves, which provide it with the opportunity to develop energy production and stimulate economic growth. The mining industry plays an important role in providing electricity to the country's residents, as well as exporting electricity to neighboring countries. The subsoil use sector provides jobs, develops regions, and improves the socio-economic situation of the population. The importance of sustainable development of the mining industry in the context of environmental conservation and the social well-being of employees is also discussed. However, the mining industry is subject to controversy at the community level, which can hinder operations and lead to disinvestment. The number of Western companies in the country has sharply decreased after increasing conflicts with the local population and an unstable political situation in 2007-2013. As a result, there is an increase in the number of investors from Kazakhstan, Turkey and Russia. Among them, the number of Chinese companies prevails due to their willingness to work under risk conditions. At the end of the work, the results are summed up and conclusions are drawn about the importance of the mining industry for the economy of Kyrgyzstan.