President and CEO of Centerra Gold Inc. Scott Perry addressed the people of Kyrgyzstan. The text of the message is published on the official website of the company.
It says that Centerra Gold has invested more than $3.4 billion in development of Kumtor mine and extended its life from 18 to more than 34 years.
Scott Perry also stresses that the company operated a world-class facility in accordance with international environmental, safety and engineering standards.
«Under our management, the Kumtor mine became the largest private employer in the Kyrgyz Republic, its biggest taxpayer and a critical contributor to the Kyrgyz economy and important social programs. The seizure of the mine is based on false information and groundless allegations that undermine everything we have built together. We fear that the government’s unjustified action will put thousands of well-paying jobs and the businesses of hundreds of Kyrgyz suppliers at risk,» he notes.
The president of the company noted that such actions of the Cabinet of Ministers threaten the economy of Kyrgyzstan and future foreign investments in the country.
Global investors want certainty. They want to know that a government will respect signed agreements and not change the rules without warning.
«We remain willing and available to engage in a constructive dialogue with the leadership of the Kyrgyz Republic. But to date, the authorities have repeatedly refused our attempts to open talks. We have always resolved differences in our relationship through negotiation and compromise. This time, we are concerned that the government is pursuing a premeditated effort to nationalize the Kumtor mine or force Centerra Gold to give up ownership. Our goal remains to find an acceptable resolution to this dispute. In the meantime, we are doing everything possible to preserve the value of the Kumtor mine and protect Centerra Gold and its stakeholders from the government’s unnecessary actions,» the message says.
