Business Ombudsman of Kyrgyzstan Robin Ord-Smith commented on the situation around Kumtor mine.
He noted with regret that representatives of the largest investor and the state could not resolve their disputes through peaceful negotiations, as a result, external management was imposed on Kumtor field.
«The Business Ombudsman has repeatedly expressed concern about the impact of recent events on the business, business environment and investment attractiveness of the country. Companies operating in the market, current and potential investors are concerned about possible consequences of the situation, including for their own business,» the statement says.
The Business Ombudsman notes that in order to overcome the economic crisis and restore the economy, business must be confident in the rule of law and due process of law, in the predictability and stability of the environment in which the rights and legitimate interests of entrepreneurs and investors are respected and protected.
The Business Ombudsman hopes that even at this late stage, the parties will be able to negotiate and come to an agreed settlement of the issue, taking into account the interests of all parties.
Centerra’s offices in the country have been searched and documents were seized last weekend.
The day before, the deputies of the Parliament took note of the interim report of the state commission for checking the activities of Kumtor. The term of work of the state commission has been extended by three months. The deputies also agreed to impose external management on the company.
Centerra Gold Inc. has already announced start of arbitration proceedings against the government of Kyrgyzstan.
