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Kyrgyzstan Review, 10 years ago




[05.06.23] Finance Ministry Comments On Restructuring of Kumtor Gold Company

Kyrgyz Government is selecting a law firm with international reputation to evaluate Kumtor Gold assets so that the Government could settle the agreement on restructuring of Kumtor Gold Company, reported E.Toromyrzaev, first deputy finance minister, head of delegation to negotiate with Canadian Cameco Corporation over the project.
 
At present Kyrgyz Government has not approved the procedure yet. We only settled the general restructuring scheme without any financial details, noted E.Toromyrzaev.
 
According to him the Government is searching for a law firm now to compare the price suggested by Cameco to the international market prices. Only after this is accomplished and negotiated over with Cameco, a special commission will present the material for Government consideration, he concluded.
 
Now Cameco Corporation owns 1/3rd of KumtorGold project and is developing the gold deposit.
 
NA AKIpress, June 05, 2003

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