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Kumtor developments: Final negotiations with Centerra Gold to take place today

The final negotiations of the Kyrgyzstan’s authorities with Centerra Gold Inc. will take place today. The head of the Cabinet of Ministers Akylbek Japarov informed the deputies the day before.

According to the deputy Natalya Nikitenko, there is still no information about amount of gold mined after the introduction of external management at the mine, where it is, how and whom it is planned to sell it. «What’s going on with the so-called state-owned main enterprise?» she asked.

According to Akylbek Japarov, the gold mining enterprise is operating normally. He stated that a non-disclosure agreement was signed with Centerra Gold Inc.

According to the head of the Cabinet of Ministers, the final stages of negotiations with the Canadians will begin this morning. «All mined gold is on the territory of Kyrgyzstan. We expect a profit of $191 million from this venture,» he said.

Natalya Nikitenko reminded the official that, according to the Ministry of Finance, Kumtor’s revenues fell by almost 3 billion soms. «Is this such a good management in the company?» she asked.

Akylbek Japarov suggested waiting for January, when the final results will be summed up. «December was good for Kumtor, they approached areas with richer ore. I think they will fulfill the plan,» he concluded.

Earlier, the Ministry of Finance reported that compared to last year, budget revenues from Kumtor Gold Company decreased by 2,619.9 billion soms, or 27.2 percent. In 2020, the budget received at least 9,618.7 billion soms from the company, for 11 months of 2021 — 6,998.8 billion soms.