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Jerooy management tells who owns project

Alliance Altyn LLC, which holds a license to develop Jerooy gold deposit in Talas region, commented on the publication of the 24.kg news agency «Will Jerooy’s gold be dragged into presidential election?»

The company informs: the data on the delay in the implementation of Jerooy project and the alleged involvement of Kyrgyz MP Omurbek Babanov in Jerooy project contradicts to reality.

The founder of LLC Alliance Altyn is the Russian company Vostok-Geologobycha, owned by a Russian businessman Musa Bazhaev (with 60 percent share) and a Kazakhstan businessman Alijan Ibragimov (with 40 percent stake).

It is noted that Alliance Altyn strictly fulfills its obligations under the license agreement. It prepared and sent for examination to the state bodies of the Kyrgyz Republic field development project. In the current year, after the final approval of the project, it is planned to begin construction work on Jerooy site. The development of the field start is scheduled for 2018.

«We emphasize that Jerooy is a long-term investment project the implementation of which will make a significant contribution to the social and economic development of Kyrgyzstan. Alliance Altyn LLC is a commercial enterprise and operates strictly within the framework of the legislation of the Kyrgyz Republic, outside politics," the company stressed.