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BISHKEK (TCA) — Kyrgyzstan’s mining industry has been deteriorating for years and the situation has become critical but the government has not paid much attention to it. For more than 20 years since independence, the industry’s management capacity has been worsening, members of the Association of Miners and Geologists of Kyrgyzstan said at a press conference in Bishkek. Continue reading
BISHKEK (TCA) — After Kyrgyzstan President Almazbek Atambayev last week ordered the General Prosecutor’s Office to renew the investigation into the legality of the 2003-2004 and 2009 agreements governing the country’s largest gold project, Kumtor, Canada-based Centerra Gold Inc. has made a statement to make its “position on this matter to be clear so as to avoid any misinformation or misunderstanding”. Continue reading
BISHKEK (TCA) — Canada-based Centerra Gold, which is developing the Kumtor gold mine in Kyrgyzstan, has reported on more legal proceedings in Kyrgyzstan and restrictive measures imposed by Kyrgyz courts and state authorities on Centerra’s Kyrgyz subsidiaries and senior management personnel. Continue reading
BISHKEK (TCA) — Kumtor Gold Company, which is developing Kyrgyzstan’s Kumtor gold mine, presented results for the first quarter of 2016 at a press conference on May 27 in Bishkek. Continue reading
BISHKEK (TCA) — Canada-based Centerra Gold Inc. and Kumtor Gold Company (KGC) have summed up their operating results in the first quarter of 2016 for the Kumtor gold mine in Kyrgyzstan. In the first three months of 2016, KGC produced 86,444 ounces or 2688.7 kg of gold and contributed more than 1.6 billion soms in taxes and mandatory payments to Kyrgyzstan’s state budget, Kumtor Gold Company said on May 19. Continue reading
BISHKEK (TCA) — This time the clash between Kyrgyzstan’s authorities and the operator of the country’s largest gold mine and core moneymaker Kumtor Gold seems to be more serious than previous ones. At stake is close to $200 million in dividends paid by Kumtor to its parent company in Canada back in early 2013 and withheld by the latter to its shareholders citing a “charge” for “de-recognition” of mining assets during the summer of the previous year. Perfectly legal, the mining company argues. A corporate kickback in the eyes of the Kyrgyz prosecutors, though. Continue reading
