Bishkek, Nov. 22, 2018 / Kabar /. Prime Minister Mukhammedkalyi Abylgaziev met with President and CEO of Centerra Gold Inc. Scott Perry, who arrived in the country at the invitation of the head of government.
During the meeting, the sides discussed the issues of the activities of Centerra Gold Inc., primarily related to the Kumtor mine, taking into account the positive results of geological exploration at the field.
The head of government was informed that at the request of the Kyrgyz side in 2018, the company plans to ensure production at the Kumtor mine not less than 15.5 tons of gold, which exceeds the forecast figures, and continue to intensify efforts to improve the efficiency of the enterprise and achieve an increase in production in 2019.
In addition, the company is developing additional proposals for further investments for a potential increase in production capacity of the enterprise.
At the same time, Centerra Gold Inc decided to finance a two-year exploration program. In case of confirmation of the expected results of the implementation of this program, conditions will be created for extending the work of the Kumtor mine for several years.
In addition, Scott Perry informed the Kyrgyz Prime Minister that over the past years international companies, including Chinese, have expressed interest in investing or acquiring Centerra Gold Inc. However, at the moment, the company has not received any such official proposals.
“In case if any offer will be considered as financially advantageous, Centerra Gold Inc. contacts the largest shareholder - the Government of Kyrgyzstan in order to assess the interest in the transaction. The final decision on any deal involving Centerra Gold Inc. is made by the company's shareholders,” said Scott Perry.
Additional conditions were also discussed for the entry into force of the Strategic Agreement, providing for an increase in environmental payments and the formation of a social partnerships fund for regional development.
Abylgaziev stressed the importance of ensuring transparency of all joint decision-making processes, and also focused on the need to intensify efforts to improve environmental compliance at the gold mine.
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