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Deputies of Respublika–Jurt faction advise Cabinet of Ministers to sue Centerra

Deputies of Respublika — Jurt faction advise the Cabinet of Ministers of Kyrgyzstan to sue Centerra.

According to the leader of the faction Omurbek Babanov, the purchase of Thompson Creek company contradicts the interests of the republic. «32 percent is a blocking stake. We still have 26.6 percent. Apply to the court. Don’t refer to the 2009 agreement. This transaction needs to be canceled,» he said.

Deputy Chairman of the Board of Kyrgyzaltyn for Economics, Finance and Investments Bektur Sagynov noted that members of the Board of Directors from Kyrgyzstan insisted that the issue should be avoided, due to which the share of the KR in Centerra Gold decreased. «Maybe we should have taken more loans. But the board of directors made a different decision,» he said.

Recall, in July 2016 Centerra Gold Inc. bought 100 percent of the shares of the North American mining company Thompson Creek Metals Inc., which has several gold, copper and molybdenum deposits in its assets. As a result, the share of Kyrgyzaltyn OJSC in Centerra Gold Inc. decreased from 32.1 to 26.6 percent.

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