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Sadyr Japarov tells about terms of agreement with Centerra Gold

All income since the introduction of external management at Kumtor mine is transferred to Kyrgyzstan. The President of the republic announced live on Monday.

According to Sadyr Japarov, Kumtor’s income received since May 15, 2021 in the amount of $323 million is transferred to the Kyrgyz Republic.

«In addition, Centerra will pay dividends for three quarters of last year in the amount of $11 million. The company will also make a one-time payment of $50 million. We have regained control over the mine reclamation fund, and we will receive $53 million from this. These funds were on trust accounts at a London bank. Centerra refused a batch of gold, which it could not take in May 2021 for $29 million,» he said.

The head of state noted that both Centerra and Kyrgyzstan drop all mutual lawsuits and proceedings.

President Sadyr Japarov visited the Kumtor gold mine on January 2 and got acquainted with the activities of Kumtor Gold Company CJSC. He stated that progress had been reached in the negotiation process with the Canadian company and discussion of an amicable agreement was nearing completion. The Canadian company also made a statement, outlining its terms of the agreement. Transfer of the stake in the company owned by Kyrgyzstan to Centerra is among them.