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State commission on Kumtor to present results behind closed doors

The next meeting of the state commission on Kumtor will take place behind closed doors. Press service of the Parliament informed 24.kg news agency.

The Parliament confirmed that the deputies would continue hearing the report of the commission. However, the deputies decided that the media would not be present at the hearing, and an online broadcasting would not be organized.

The deputies heard the report of the Chairman of the state commission Akylbek Japarov on Wednesday. He accused the ex-presidents of high treason and said that Kyrgyzstan did not receive the expected gains on shares in Centerra Gold.

Earlier, the deputies adopted a law allowing imposing external management at the enterprise. In addition, there is a court decision to recover a compensation in the amount of more than $ 3 billion for environmental damage from the company.

Centerra Gold Inc. announced that it became aware of a number of legal and political developments in Kyrgyzstan that may have an impact on the ownership and its rights of Kumtor mine under the revised 2009 project agreements.

Accordingly, the company understands that the adopted law on external management would apply in circumstances where Kumtor Gold Company (KGC) violates certain Kyrgyz laws relating to safety and thereby creates an immediate threat to the life or health of people:

  • Prohibits KGC’s managers from managing the mine (or else face criminal sanctions);
  • And enables the Prime Minister of the Kyrgyz Republic to appoint an external manager to take control of all management activities of KGC, including its bank accounts.