KYRGYZ REPUBLIC - Centerra’s Kumtor contract under review

The Kyrgyz Republic government will review its 33% stake in Canadian miner Centerra Gold, which is at the centre of growing political debate in the country over whether to revoke its mining licence amid accusations of environmental damage. A special commission has been established to revise the Kyrgyz parliament’s share and has a deadline of October 1 to prepare a new contract with the company.  1

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KYRGYZ REPUBLIC - Chaarat wins Tulkubash mining permit

Chaarat Gold has achieved a major milestone in development of its Chaarat project in northwest Kyrgyzstan, receiving a mining permit for the Tulkubash site. In March 2011, the company raised the funds required to construct the Tulkubash open pit mine and has since been in negotiations with the Kyrgyz Government about a long-term agreement at the licence area.  1

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KYRGYZ REPUBLIC - Orsu sells 40% Talas stake to Gold Fields

Orsu Metals has sold its 40% share in the Talas gold-copper-molybdenum project to a Gold Fields subsidiary for US$10 million. The proceeds will enable Orsu to fund its equity portion of project capital expenditure in the Karchiga project in Kazakhstan. The sale means Gold Fields now owns 100% of Talas and remains the project operator.

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KYRGYZ REPUBLIC - PM tours Kumtor mine

The Kyrgyz Prime Minister Babanov has told Canadian miner Centerra Gold he wants to work with the company to resolve environmental issues at the core of a governmental dispute about continuing operations at Kumtor gold mine.

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