In accordance with the revised agreement on the sale of gold and silver dated June 6, 2009 between Kumtor Gold Company CJSC, Kyrgyzaltyn OJSC and the government, silver is sold together with gold in accordance with the established procedure. Kyrgyzaltyn OJSC reported.
The conditions for the sale of precious metals, including silver, to one buyer — a bank — are stipulated in this agreement. The sale of precious metals is a step-by-step process that includes technical standards.
Kumtor supplies Dore alloy to the refinery, which conducts acceptance smelting in the presence of Kumtor representatives. Samples are taken from the liquid molten metal. Next, the percentage of gold and silver in these samples is determined. After refining, gold and silver are sold to customers.
«At the same time, about 99.9 percent of the cost of gold and silver is subject to return to Kumtor, and 0.1 percent is the cost of refining. The cost of processing is paid to the refinery by Kumtor. Since the beginning of the development of Kumtor mine to the present, about 150 tons of silver have been sold. Payments to the budget were made in accordance with the tax legislation of Kyrgyzstan. Data on the sale of gold and silver are transmitted to the relevant government agencies and are not secret,» the statement says.
Earlier, the external manager of Kumtor Tengiz Bolturuk said that all the gold from the mine would be bought by the National Bank. He also announced sale of the first batch of the precious metal. However, the National Bank reported that a decision on the deal has not yet been made.
