Tag Archives: Kyrgyzstan

Centerra files damages claim over Kumtor

AUG. 26 2021 (The Bulletin) — Canada’s Centerra Gold filed a bankruptcy motion in the US demanding a fee of $1m per day since the Kyrgyz government expropriated the Kumtor gold mine at the end of May. The Kyrgyz government has said that it has gathered enough evidence against Centerra Gold to prosecute it for corruption and environmental damage. Centerra Gold denies any wrongdoing.

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— This story was published in issue 498 of the Central Asia & South Caucasus Bulletin, on AUG. 31 2021

— Copyright the Central Asia & South Caucasus Bulletin 2021

Kyrgyz build Kumtor case

AUG. 11 2021 (The Bulletin) — Kyrgyzstan’s security service said that it had pulled together enough evidence to push ahead with a corruption prosecution against the privatisation of the Kumtor gold mine in 1993. The Kyrgyz government expropriated the mine in May because of what it described as environmental failings. Centerra Gold, which owns the Kumtor gold mine, has disputed the expropriation and said it is launching arbitration.

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— This story was published in issue 496 of the Central Asia & South Caucasus Bulletin, on AUG. 17  2021

— Copyright the Central Asia & South Caucasus Bulletin 2021

Ex-president returns to Kyrgyzstan to answer questions on Kumtor

AUG. 3 2021 (The Bulletin) — The Kyrgyz authorities said that Askar Akayev, the country’s first post-Soviet president, had flown to Bishkek for the first time since fleeing into exile in Moscow after a revolution in 2005 to answer questions over the privatisation of the Kumtor gold mine. It was unclear whether Mr Akayev faced the threat of arrest and had been forced to return to Bishkek. The Kyrgyz government expropriated the Kumtor gold mine this year from its Canadian owners, Centerra Gold.

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— This story was published in issue 495 of the Central Asia & South Caucasus Bulletin, on Aug. 9 2021

— Copyright the Central Asia & South Caucasus Bulletin 2021

Kyrgyz government wants emergency powers

BISHKEK/JULY 28 2021 (The Bulletin) — — Citing Kyrgyzstan’s worsening economic outlook, economy minister Akylbek Japarov said that he wanted emergency powers for three months that would bypass Parliament and allow the government to raise extra cash for its budget by giving it more rights to fine companies and more oversight over customs and licensing regulations.

Observers, though, said that the proposals would damage Kyrgyzstan’s already tarnished repuation as a place to do business, – dented by rising unemployment linked to the pandemic, a coup last year and the expropriation of the Kumtor gold mine from its Canadian owners.

Mr Japarov, who led an investigation into environmental damage at Kumtor in May that triggered a $3.1b fine and the expropriation of the mine, said that the emergency powers were needed to give the government more flexibility.

“We will be able to take preventive measures to improve the economic situation before people become discontent and start to protest,” he said.

“We suggest that in special cases decisions can be made with subsequent changes and additions and that 10% additions can be added to the revenue and expenditure side of the
budget.”

Commenting on the proposed emergency budget laws, Robin Ord Smith, Kyrgyzstan’s Business
Ombudsman, said that the laws were being rushed through without proper scrutiny.

“Our initial assessment of this draft legislation identifies some potential issues that could have a
negative impact on business entities and economic recovery,” he said.

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— This story was published in issue 494 of the Central Asia & South Caucasus Bulletin, on July 29 2021

— Copyright the Central Asia & South Caucasus Bulletin 2021

Charaat’s Kyrgyz gold project funding going to plan

JULY 27 2021 (The Bulletin) — Charaart Gold CEO Artem Volynets said that despite the expropriation of the Kumtor gold mine by the Kyrgyz government from Toronto-registered Centerra Gold, funding for its own project in Kyrgyzstan was moving along swiftly. In June, Chaarat Gold said that media publicity over the expropriation of Kumtor had damaged fundraising for its Tulkubash gold deposit. Charaat Gold said that it expected first gold to be produced in H2 2023, as planned.

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— This story was published in issue 494 of the Central Asia & South Caucasus Bulletin, on Jul7 29 2021

— Copyright the Central Asia & South Caucasus Bulletin 2021

Iran talks up trade deals with the EEAU

JULY 21 2021 (The Bulletin) — Iranian diplomats are talking up a trade agreement with the Kremlin-led Eurasian Economic Union (EEAU) which they hope will create a series of free trade zones that will spur joint projects. The EEAU includes Russia, Kyrgyzstan, Armenia, Kazakhstan and Belarus. Media reported that a group of 40 Iranian businessmen had flown to Bishkek to look at potential investments in Kyrgyzstan.

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— This story was published in issue 493 of the Central Asia & South Caucasus Bulletin, on July 22 2021

— Copyright the Central Asia & South Caucasus Bulletin 2021

Kyrgyzstan needs to update power infrastructure, says World Bank

JULY 21 2021 (The Bulletin) — Kyrgyzstan needs major investment in its aging electricity transmission infrastructure, the World Bank said in a report. Media quoted the World Bank as saying that Soviet-era infrastructure meant that transmission cables and towers were losing a significant proportion of their electricity.

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— This story was published in issue 493 of the Central Asia & South Caucasus Bulletin, on July 22 2021

— Copyright the Central Asia & South Caucasus Bulletin 2021

Pneumonia rates in Kyrgyzstan are 25% higher than normal

JULY 21 2021 (The Bulletin) — Pneumonia rates in Kyrgyzstan in the first six months of the year were 25% higher than normal, media reported. Kyrgyzstan has been criticised for not being accurate enough with its coronavirus data. Officially, Kyrgyzstan has recorded 2,217 deaths from coronavirus since the pandemic started last year.

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— This story was published in issue 493 of the Central Asia & South Caucasus Bulletin, on July 22 2021

— Copyright the Central Asia & South Caucasus Bulletin 2021

US court says Kyrgyzstan was in contempt of court over Kumtor

JULY 21 2021 (The Bulletin) — A court in the US has ruled that the Kyrgyz government was in contempt of court for continuing to prosecute the Toronto-based company Centerra Gold for environmental damage at the Kumtor gold mine in Kyrgyzstan, Centerra Gold said. The Kyrgyz government has expropriated the mine, although Centerra Gold said it will challenge this expropriation in US courts.

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— This story was published in issue 493 of the Central Asia & South Caucasus Bulletin, on July 22 2021

— Copyright the Central Asia & South Caucasus Bulletin 2021

US court rules against Kyrgyz government over Kumtor

JULY 21 2021 (The Bulletin) — A court in the US has ruled that the Kyrgyz government was in contempt of court for continuing to prosecute the Toronto-based company Centerra Gold for environmental damage at the Kumtor gold mine in Kyrgyzstan, Centerra Gold said. The Kyrgyz government has expropriated the mine, although Centerra Gold said it will challenge this expropriation in US courts.

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— This story was published in issue 493 of the Central Asia & South Caucasus Bulletin, on July 21 2021

— Copyright the Central Asia & South Caucasus Bulletin 2021