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Kyrgyzaltyn comments on speculations about sale of Kumtor mine

Kyrgyzaltyn OJSC commented to 24.kg news agency on speculations about possible sale of Centerra Gold’s shares and Kumtor project to a Chinese company Shadong Gold.

Kyrgyzaltyn sent a request to the Canadian investors to clarify the information. They replied that since Centerra Gold was a public company, it could receive various offers from third parties, including Chinese investors, about conclusion of deals of a different nature. This is a common practice in the world.

«Centerra Gold has officially confirmed that if any of these proposals turned out to be financially attractive and were at the stage of discussion, then they would certainly agree this issue with the Kyrgyz Republic and Kyrgyzaltyn OJSC. It is important to note that the decision to continue work on any proposal received from a third party is made by all Centerra Gold shareholders, including Kyrgyzaltyn, and not just by the management or board of directors of the company,» Centerra Gold commented.

As of today, Kyrgyzaltyn is the largest shareholder of the Canadian company that owns Kumtor.