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Kumtor developments: Scott Perry initiates negotiations with Kyrgyz officials

The first round of negotiations on the Kumtor issue ended in Geneva (Switzerland). Presidential spokesman Erbol Sultanbaev confirmed the information on the meeting of Kyrgyz officials with representatives of the Canadian company Centerra Gold Inc.

According to him, earlier the Kyrgyz side received a letter from the Centerra’s CEO Scott Perry. He suggested holding negotiations on neutral territory «to consider all possible ways to resolve the current situation, including a scenario when the Kyrgyz Republic will become the direct owner of Kumtor Gold Company».

Erbol Sultanbaev informed that on behalf of Sadyr Japarov, a delegation consisting of the Deputy Chairman of the Cabinet of Ministers — Minister of Economy and Finance Akylbek Japarov, Chairman of the State Committee for National Security Kamchybek Tashiev, Prosecutor General Kurmankul Zulushev, external manager of Kumtor Gold Company and specialists in the field of law were sent to negotiate.

«The parties listened to mutual opinions. The Kyrgyz side is satisfied with the results of the negotiations and, if necessary, is ready to continue them, taking into account the national interests of the country,» the spokesman for the head of state said.

Earlier it became known that the New York Bankruptcy Court granted the motion of the subsidiaries of Centerra Gold Inc. Kumtor Gold Company (KGC) and Kumtor Operating Company (KOC) on the return of goods to suppliers with full refund.

It is also known that the London Bullion Market Association (LBMA) has suspended Kyrgyzaltyn JSC from the LBMA Good Delivery List for failing to meet the requirements of the Responsible Sourcing Programme.

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