Chairman of the Cabinet of Ministers Adylbek Kasymaliev signed a resolution that introduces adjustments to the revised investment agreement for the Kumtor gold deposit. The main objective of the changes is to ensure the uninterrupted and efficient operation of the enterprise under the new conditions.
Reasons for changes and legal framework
According to the document, the need for amendments is driven by the exit of Centerra Gold Inc. from the project. The new agreement is also aimed at implementing the agreements dated December 26, 2023, regarding the termination of the previous strategic agreement on environmental protection and investment development.
The resolution states that the document also takes into account the unilateral obligation of Kumtor Gold Company dated August 7, 2019. However, the published text of the resolution does not disclose specific details regarding changes to the financial, investment, or environmental obligations of the parties.
Implementation of the resolution
OJSC Kyrgyzaltyn and CJSC Kumtor Gold Company are recommended to take appropriate measures to implement the decision. State bodies are instructed to facilitate the implementation of the document within their competencies.
- June 6, 2009
Conclusion of the initial investment agreement between the Government of the Kyrgyz Republic, Centerra Gold Inc., Kumtor Gold Company, and Kumtor Operating Company
- August 7, 2019
Adoption of the unilateral obligation by Kumtor Gold Company
- December 26, 2023
Agreement on the termination of the strategic agreement on environmental protection and investment development
