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Wednesday, August 21st, 2019

Abylgaziev meets with President of Centerra Gold Inc. Scott Perry

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Kyrgyz Prime Minister Mukhammedkalyi Abylgaziev met with Scott Perry, President and CEO of Centerra Gold Inc. and some members of the Board of Directors of Centerra Gold Inc.

During the meeting, the sides discussed the issues related to the activities of Centerra Gold Inc. and prospects for deepening cooperation in order to further increase the efficiency of the Kumtor deposit, the Kyrgyz Government’s press service reported.

Perry informed Abylgaziev that in the first half of 2019, Kumtor produced 9.2 tons of gold (5.7 tons in 2018 for the same period). In addition, according to him, USD 18 million was approved for the program of exploration for 20182019. In May of this year, Centerra Gold Inc. allocated an additional USD 6 million for these purposes.

The sides noted that the preliminary results allow us to optimistically look at the prospects for extending the life of the Kumtor mine, which will have a positive impact on tax and other payments, the preservation of thousands of jobs, as well as the overall positive impact of the enterprise on the domestic economy.

The sides also discussed the entry into force of the Strategic Agreement, which envisages for the Kyrgyz side an increase in the amount of environmental payments, the creation of a social partnership fund for regional development, to which Centerra Gold Inc. plans to make annual payments.

They noted that in the near future all procedures for the entry into force of the Strategic Agreement should be completed.

Abylgaziev noted that for the first time several representatives of the Board of Directors of Centerra Gold Inc. visited the Kumtor mine at once in order to get acquainted with the work of the gold mining enterprise on site and to ascertain the positive dynamics in its main areas of work.

The prime minister emphasized the importance of the activities of the gold mining enterprise for the country’s economy and noted that decisionmaking processes should take place in an open and transparent environment, taking into account the interests of the Kyrgyz Republic.

In addition, the head of government noted the importance of transferring the Reclamation Trust Fund to the Kyrgyz Republic and timely and highquality preparation of the Kumtor mine reclamation project. Scott Perry supported this position and expressed the hope that this issue would be worked out as part of negotiations on a separate restoration agreement.

Abylgaziev also drew particular attention of Centerra Gold Inc. representatives to the need for further strict compliance with environmental and technical standards at Kumtor to ensure its continued efficient operation.

Source: Kyrgyz National News Agency

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