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Staff of Kyrgyzaltyn: Foreign citizen takes over company

The staff of Kyrgyzaltyn OJSC made an appeal to the people of Kyrgyzstan and the President Sadyr Japarov.

Employees say that after the change of management, the company was actually taken over by a foreign citizen Tengiz Bolturuk. He introduces himself as an adviser to the President, intimidates employees and threatens to fire them.

«Violating the legislation of Kyrgyzstan, hundreds of thousands of dollars are being withdrawn from Kyrgyzaltyn OJSC through shell companies. Chairman of the Board of Directors Tilek Mambetaliev, being aware that the funds are being withdrawn illegally, does not take any measures,» the appeal says.

The staff claims that six employees were dismissed by Tengiz Bolturuk’s decision. In addition, as part of the restructuring, it is planned to liquidate several branches and structural divisions. As a result, about a thousand people may be left without work.

The staff of Kyrgyzaltyn OJSC asks the President, Prime Minister, State Committee for National Security, and the Prosecutor General’s Office to pay attention to what is happening in the company.

Tengiz Bolturuk, a dual citizen of the Kyrgyz Republic and Canada, has extensive experience in the mining industry, with a focus in project and process management. He has over 30 years of experience in engineering and operations in the mining industry, with worldwide experience including in Canada, USA, Kazakhstan, Australia, and South Africa. Bolturuk received degrees in mineral processing and metallurgy from the National University of Science and Technology in Moscow, Russia, and from the Clausthal University of Technology in Germany, respectively. He is a member of the Association of Professional Engineers of Ontario and the Canadian Institute of Mining and Metallurgy. Tengiz Bolturuk was nominated to the Board of Directors of Centerra Gold Inc. the by Kyrgyzaltyn JSC pursuant to the Restated Shareholders’ Agreement dated as of June 6, 2009 entered into by Kyrgyzaltyn and Centerra.