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Kyrgyzaltyn announces competition for Makmal field

Receipt of applications from potential investors for participation in a tender for creation of a joint venture on the basis of Makmalzoloto combine branch will begin on November 14. Press service of Kyrgyzaltyn informed 24.kg news agency.

Applications for participation in the competition are reportedly accepted within 30 calendar days (November — December) in the central office of Kyrgyzaltyn OJSC.

The main criteria for determining a winner of the competition are the maximum provision of jobs to the local population, mandatory use of environmentally safe reagents and modern technologies in the processing of minerals, the shortest commissioning of a new gold extraction plant and / or modernization of the existing one.

A potential investor should finance the project at own expense without attracting loans from third parties or banks.

The size of annual contribution to Toguz-Toro district development fund from the work of the joint venture must be at least 1 percent of the gross income (revenue).

«An investor should organize non-core production to increase employment and develop the region’s economy (depending on the amount of capital investment). The company should have experience in the mining industry, including in other countries,» commented the company.

Legal entities registered in Kyrgyzstan and a foreign country, as well as individuals, can participate in the competition.

After the deadline for accepting applications, the interdepartmental commission will determine a winner of the competition within five working days.

The interdepartmental tender commission includes representatives of the Ministry of Economy, the State Property Management Fund, the State Agency for Environmental Protection and Forestry, the State Committee for Industry, Energy and Subsoil Use, the Agency for Promotion and Protection of Investment, the Central Committee of the Mining and Metallurgical Trade Union. In addition, it includes representatives of the Office of the Plenipotentiary Representative of the Government in Jalal-Abad region, the State Administration of Toguz-Toro District, the heads of Kargalyk, Atai, Kok-Irim, Sary-Bulun and Toguz-Toro rural administrations and Kyrgyzaltyn employees.

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