News & Publications

Basic Operating and Financial Results

The official opening of a renovated gym took place at the Sadyk Sadykov higher school in the village of Saruu, Jety-Oguz district Issyk-Kul province, on February 28, 2014. The kids’ joy was shared also by hundreds of village residents, local officials and representatives of Kumtor Company.

While addressing the Kyrgyz Parliament on February 20, 2014, Mr. Muhammedkaly Abulgaziyev, the Head of the KR Social Fund, stated that the Fund insists that Kumtor expat employees are required to make social security payments.

Centerra Gold Inc. (TSX: CG) and Kumtor Operating Company updated the Kumtor reserves and resources as of December 31, 2013.

A conference was held on January 24-26, 2014, at the Issyk-Kul Aurora health resort under the project “Youth Banks in the Issyk-Kul Region” currently implemented by Eurasia Foundation of Central Asia with the financial support of Kumtor Company.

Centerra Gold Inc. (Centerra) and Kumtor Gold Company report that Gold production at the Kumtor mine was – 600,402 ounces* or 18,674.6 kg for the full year 2013; – 348,130 ounces or approximately 10,828.1 kg in the fourth quarter of 2013.

The Company purchased about 1,000 tonnes of coal to support villagers during the heating season. After the District Committee session, held in the beginning of December, 2013, the Company has decided to provide help to vulnerable social groups from Balykchy city, Djety-Oguz, and Ton regions: 200 tonnes will be distributed among residents of Balykchy, villagers of both region will get 400 tonnes each. Coal delivery to the families of people in need will begin next week.

The State Agency for Environment Protection and Forestry appealed to the Bishkek Inter-District Court claiming to oblige the Canadian gold miner to pay KGS 15 billion. This is the cost of environmental damage caused by Kumtor for 16 years, according to the estimates of environmentalists.

Later this December Jogorku Kenesh is expected to adopt yet another earthshaking decision with regard to Kumtor

Today, 28th of November 2013 at 12:30 pm, anonymous people stopped company vehicle with 17 employees directing to Kumtor site. People armed with fire guns on motor vehicles followed company car from Saruu village to Chychkan village

The Government is preparing a new agreement on Kumtor… It is hard to say whether the Canadian party approves this document or not. Centerra Gold is not going to cede more than 50%. But the Parliament still holds its ground – not less than 67%… the Government should take drastic measures, which mean denunciation or nationalization of Kumtor. However, in this case the Republic will face protracted litigations, and the country’s President urges deputies to make a rational decision on the budget-making enterprise of Kyrgyzstan. … The international proceeding at the suit of Kazakhstani company Visor will start in the Netherlands in a couple of weeks. Kyrgyzstan will be the respondent party. The amount of claim is $400 million. Canadian Stans Energy company is also trying to win back its losses. The amount of claim exceeds $100 million for the expropriation of Kutessay-2 deposit. These precedents are not the first and isolated cases when investors protect their rights in the international courts of arbitration. And, alas, Kyrgyzstan is not always successful. All difficulties and consequences of high-profile litigations, in particular, possible arbitration proceeding at the suit of Centerra, have made the head of the state anxious. Following the results of […]

One should just learn a bit more about the activities of Kumtor to find out that much of today’s controversy surrounding Kyrgyzstan’s largest mine is essentially groundless.