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Court releases head of KAZ Minerals Bozymchak from custody

The Pervomaisky District Court of Bishkek did not uphold the petition of the investigative authorities about the arrest of Ilyas Tulekeev, Director General of KAZ Minerals Bozymchak LLC. Own sources informed 24.kg news agency.

A citizen of Kazakhstan, Ilyas Tulekeev, was detained on Friday in Bishkek by security forces on suspicion of tax evasion. Yesterday, by a court decision, he was released. But the charges against him have not been withdrawn.

KAZ Minerals Bozymchak company belongs to KAZ Minerals PLC Group. Kazakhmys Gold Kyrgyzstan company started its work in Kyrgyzstan in 2007. On October 31, 2015 Kazakhmys Gold Kyrgyzstan was renamed into KAZ Minerals Bozymchak, the company holds licenses for exploration and development of copper and gold Bozymchak field in Ala-Buka district of Jalal-Abad region and other licenses, necessary for the operation of the field.

On August 1, 2015, Bozymchak mining and processing enterprise was launched with the participation of the Prime Minister of Kyrgyzstan. According to the government, the company’s annual payments are estimated at 310 million soms. The explored reserves of copper amount to 140,078 tons, gold — 22.96 tons, silver — 144.2 tons. As of the beginning of 2017, more than $ 430 million have been invested in the project.

However, the enterprise did not start working in its full capacity, and later the company was revoked a license.

The license for the development of the country’s largest copper-gold deposit Bozymchak was resumed in autumn 2017.