During discussions on Armenia’s 2024 state budget execution in the National Assembly, Minister of Economy Gevorg Papoyan reported that in 2024, gold re-exports accounted for nearly 50% of the country’s total exports. Responding to a question from Armenia bloc MP Tadevos Avetisyan, Papoyan clarified that total exports in 2023 stood at $8.5 billion, or $6.8…
Over the past 10 years, gold-bearing ore production in Kazakhstan has increased 2.2-fold, Vice Minister of Industry and Construction Iran Sharkhan has said. “Metals are more than just commodities – they are tools of economic and political influence. In the face of intensifying global competition, Kazakhstan remains a pillar of stability, neutrality and predictability,” said…
Uzbekistan has maintained its position as the world leader in gold sales for the third month in a row, according to the World Gold Council (WGC). In April, global central banks increased their gold reserves by 12 tons. The largest purchase was made by Poland, acquiring 12 tons and thereby increasing its annual stockpile by…
Companies specializing in gold mining in Kyrgyzstan transferred more than 158 billion soms to the country’s budget in the form of tax deductions, the press service of the State Tax Service reported. According to the data presented, from 2020 to 2024, 160 mining enterprises provided about 147.5 billion soms in taxes to the budget. In…
According to the results of monitoring of companies mining placer gold in the Kyrgyz Republic, environmental damage amounted to 1,039 billion soms, the First Deputy Minister of Natural Resources, Ecology and Technical Supervision Kubat Kaseinov announced at a meeting of the Committee on Fuel and Energy Complex, Subsoil Use and Industrial Policy of the Parliament.…
Armenia’s Finance Minister Vahe Hovhannisyan has announced that the Amulsar gold mine is expected to begin operations until the end of the year. According to the minister, the project will have a limited but positive effect on the national economy. “If Amulsar starts operating this year, we estimate it could contribute about 0.5% to GDP…
In February, Uzbekistan became the world’s leading gold seller, according to the World Gold Council. The Central Bank of Uzbekistan sold 12 tons of gold, taking the top spot among gold-exporting countries. Kazakhstan ranked second with 8 tons. Poland emerged as the largest buyer, purchasing 29 tons of gold. Following Poland, the next largest buyers…
Azerbaijan exported gold worth $40 million from January through February, marking a significant increase in export revenues. Data from the March issue of the “Export Review” published by the Center for Economic Reforms Analysis and Communication (CERAC) indicate that this figure represents a 5.9-fold increase compared to the same period in 2024 ($6.8 million). The…