Kyrgyzstan regains control over Kumtor gold mine
Date
7/31/2022 7:18:24 AM
(MENAFN) After signing an ownership transfer contract with the mine's former owner, Canadian miner Centerra Gold, Kyrgyzstan has reclaimed possession of the Kumtor gold mine, according to reports in the media on Saturday.
One of the greatest gold mines in Central Asia, Kumtor was formerly one of Kyrgyzstan's most significant international investment ventures. The mine, however, was brought to light last year when claims of risks to the area's ecosystem surfaced. Kyrgyzstan thereupon started a legal struggle to take back the site from the Canadian company.
At the Kyrgyzstan embassy in the United Kingdom, the exchange of paperwork attesting to the transfer process took place.
According to a news statement from the Kyrgyz president's office, “on July 29, 2022, all necessary deeds of transfer, powers of attorney, and certificates for the registration of a full transfer of ownership of 100% of shares of Kumtor Gold Company and Kumtor Operating Company in favor of [state-owned miner] Kyrgyzaltyn were given to the ambassador of Kyrgyzstan in the UK Ulan Djusupov.”
MENAFN31072022000045014146ID1104621014
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.