Prime Minister Isakov meets with Centerra executive director Scott Perry

Bishkek, Apr. 4, 2018 / Kabar /. Prime Minister of Kyrgyzstan Sapar Isakov met today with executive director of Centerra Gold Inc. Scott Perry.

The sides discussed in detail the prospects for the company's development and expressed interest in deepening cooperation, the Kyrgyz Government’s press service reported.

The Prime Minister said that Kyrgyzstan and Centerra Gold Inc. are consistently fulfilling the terms of the agreement of the Strategic Agreement signed on September 11, 2017.

Scott Perry said that Kumtor Gold Company carried out a lot of work to implement all the recommendations of AMEC, which was previously involved by the Kyrgyz government as an independent international environmental consultant, to improve the environmental situation around the Kumtor mine. Recall that according to the new agreement, the annual environmental payment was increased from $ 310 thousand to $ 3 million.

Isakov touched upon the issue of extending the life of the mine, which, according to experts and all official documents will work no more than 8-10 years.

In this connection, Perry confirmed the company's intention to invest additional $ 25 million in further geological exploration to extend the mine, which provides jobs to about 5,000 local specialists and is the largest taxpayer in the private sector.

"Since 2012, we have not invested in geological exploration work, due to the fact that there was some disagreement between the Government of the Kyrgyz Republic and the company. After the conclusion of the new agreement, we decided to resume investments in geological exploration," Perry said.

He added that the composition of the company's top management has been changed, where currently five out of five managers are three Kyrgyz citizens. Moreover, according to the information of Scott Perry, Kyrgyzstanis are involved as specialists and at the facilities of Centerra Gold Inc. in other countries.

The head of government stressed the importance of expanding the mineral and raw materials base. He noted that at present the possibility of creating a new joint venture with Kyrgyzaltyn OJSC on a parity basis on the fields located outside the concession areas of the mine is being considered.

Perry supported this intention of the Government of the Kyrgyz Republic and said that Centerra Gold Inc. will render all possible assistance on this initiative.

He also informed Isakov of the work that is being carried out by the company and will be fully completed by the end of this year, to modernize production to increase the amount of gold, which positively affects the total volumes of production, revenue, and, accordingly, increase in tax and other mandatory payments by the company.