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Monday, December 16th, 2019

Prime Minister Abylgaziev meets with President of Centerra Gold Inc. Scott Perry

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by November 30, 2019 General

Kyrgyz Prime Minister Mukhammedkalyi Abylgaziev met with Centerra Gold Inc. President Scott Perry, the Kyrgyz Government’s press service reported.

During the meeting, issues related to the activities of Centerra Gold Inc. were discussed, in particular, concerning the Kumtor enterprise, taking into account the entry into force of the Strategic Agreement, as well as the increase in production indicators at the mine. Thus, 9 months of 2018 the enterprise produced 9.5 tons of gold, during the same period of the current year – 14.04 tons. By the end of the year, gold production is expected to increase to 18.2 tons.

Abylgaziev and Perry also exchanged views on the issue of further payments within the framework of the Strategic Agreement, noting that regular contacts between the parties enhance the effectiveness of cooperation under the Kumtor project and have a beneficial effect both on the cost of shares of Kyrgyzstan in Centerra Gold Inc. and on the cost of the company as a whole.

Along with this, the prime minister outlined a number of issues, which, in his opinion, will serve as an additional confirmation of the mutual commitment to the further development of the partnership.

First of all, Abylgaziev once again raised the issue of mandatory payment by Centerra Gold Inc. dividends of Kyrgyzaltyn OJSC.

In addition, the prime minister emphasized the need to consider moving the Trust Fund for Reclamation in the Kyrgyz Republic. The government is ready to provide the necessary guarantees and promptly agree on all conditions for the placement of the Fund in Kyrgyzstan. Abylgaziev stressed the need to place these funds in Kyrgyzstan, until the closure of the mine and use them effectively to support domestic small and medium-sized businesses. He emphasized that the Government intends to apply such a uniform approach to all mining companies operating in Kyrgyzstan.

Perry stressed the importance of the Kumtor mine in Centerra Gold Inc. and noted that the issues raised by the prime minister would be submitted for consideration by the Board of Directors of Centerra Gold Inc.

Source: Kyrgyz National News Agency

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