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Head of Centerra Gold to arrive in Kyrgyzstan

Head of Centerra Gold is expected to visit Kyrgyzstan at the end of November. The Government will discuss with him payment of dividends. The Prime Minister of Kyrgyzstan Mukhammedkaly Abylgaziev announced today at a meeting of the Parliament.

According to him, the strategic agreement on Kumtor has entered into force. It was signed back in 2017, but the Cabinet of Ministers did not agree with the amount of funds received. As a result, the amount was increased from $ 87 million to $ 150 million. Payments to protect the environment and develop the regions were also increased, two funds were created.

«Under the agreement, $ 126 million will be transferred to the budget, and $ 24 million will be spent on exploration. We raise issue of dividends. They have not been paid since 2016. The President of Centerra Gold will come; we will raise the issue in order the dividends to be paid annually. In addition, the reclamation fund has accumulated $ 40 million. They say they will pay part of the funds. We insist on payment of the whole amount. The government will be a guarantor of safety of the funds. They will be spent on development of the economy. When the mine closes and reclamation begins, we will transfer funds from the budget,» said Mukhammedkaly Abylgaziev.

The head of the Cabinet promised to fully report to the deputies on Kumtor issue in December 2019.

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