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Kyrgyzstan: Key Gold Mine at Risk of Stoppage

A member of the public supervisory board at Kyrgyzstan’s state mining agency has sent local media into a spin by claiming work at the giant Kumtor gold mine could grind to a halt January 1. 

Eldar Tadjibayev, also chair of one of the local mining industry’s biggest trade unions, bases his claim on the fact that the license to operate the mine has not been renewed because of a hold-up in parliament .

Even temporary stoppages at the mine, which accounts for about one-tenth of the struggling nation’s economy, could portend calamity.

“Kumtor’s fate is in the hands of the newly elected parliament,” Tadjibayev told journalists on December 16. 

The companies directly affected appear confident matters will be settled in good time. Kumtor Gold, which is the local affiliate of Toronto-listed Centerra Gold and operates the giant mine, has called the delay an “ordinary process.”

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Kyrgyzstan: Key Gold Mine at Risk of Stoppage

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