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Government of Kyrgyzstan intends to revise Kumtor agreement

The government of Kyrgyzstan wants to revise a strategic agreement with the Canadian company Centerra Gold Inc. on cooperation on Kumtor project. The Prime Minister of Kyrgyzstan Mukhammedkaly Abylgaziyev announced this today at a meeting of the Parliament.

According to him, the current government is not satisfied with the terms of the agreement signed by the ex-Prime Minister Sapar Isakov. The head of the Cabinet did not voice the details, he only said that it was about allocation of funds.

«Negotiations are underway. We submitted our proposals to the representatives of the Canadian side. They study them. Our government is not satisfied with the terms of the agreement. We must strengthen our position. As of today, $ 7 million have been received on the agreement, but they have not been used yet. If we do not resolve the strategic agreement issue, then we will have to solve questions on this amount. There are rumors about sale of Centerra Gold Inc. shares. Next week, the head of the company will meet with the government. Then a stage the process will be clear, if such negotiations are under way,» said Mukhammedkaly Abylgaziev.

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