Centerra: Kyrgyzstan launches legal proceedings against Kumtor
| Publisher | Radio Free Europe/Radio Liberty |
| Publication Date | 7 June 2016 |
| Cite as | Radio Free Europe/Radio Liberty, Centerra: Kyrgyzstan launches legal proceedings against Kumtor, 7 June 2016, available at: https://www.refworld.org/docid/576901b124.html [accessed 20 May 2023] |
| Disclaimer | This is not a UNHCR publication. UNHCR is not responsible for, nor does it necessarily endorse, its content. Any views expressed are solely those of the author or publisher and do not necessarily reflect those of UNHCR, the United Nations or its Member States. |
June 07, 2016
By RFE/RL's Kyrgyz Service
Canada-based Centerra Gold Company says Kyrgyz authorities have launched more legal proceedings against its subsidiary, Kumtor Gold Company, and banned several of its expatriate managers from leaving the country.
Centerra said on June 6 that Kyrgyz authorities launched a probe against Kumtor Gold Company's managers, accusing them of abusing their authority and engaging in transactions that deprived Kyrgyzstan's largest gold field, Kumtor, of its assets.
Bishkek previously legally demanded a $220 million pollution fee from Kumtor Gold.
Centerra said that on June 3 a court in Bishkek granted an interim order against Kumtor Gold to secure the pollution fee claim.
A 2003 deal gave the Kyrgyz government a 17 percent stake ownership in the Kumtor operations, with Centerra controlling the rest.
The agreement was renegotiated in 2009, giving the Kyrgyz government a nearly 33 percent stake.
Bishkek has been demanding a 50-50 split in ownership.
Link to original story on RFE/RL website
