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Cabinet authorizes Tengiz Bolturuk to sign amicable agreement with Centerra

Tengiz Bolturuk, interim external manager of Kumtor Gold Company JSC — Heritage of Great Nomads National Holding Company, is authorized by the Cabinet of Ministers to sign two documents on Kumtor mine. The corresponding order was signed by the head of the Cabinet Akylbek Japarov.

According to the document, Tengiz Bolturuk, on behalf of Kumtor Gold Company, will sign:

  • Agreement on the global settlement of mutual claims between the Kyrgyz Republic and the Canadian company Centerra Gold;
  • Act on termination of the trust agreement on reclamation.

On April 4, the President of Kyrgyzstan Sadyr Japarov announced that Kumtor had completely passed into the possession of Kyrgyzstan. According to him, 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 other $53 million from this. These funds were held in trust accounts at a London bank. Centerra refused a shipment of gold, which it could not take in May 2021, in the amount of $29 million,» the head of state said.