Kyrgyz president opposed to nationalization of Kumtor gold mine
BISHKEK. Oct 9 (Interfax) - The Kyrgyz parliament will decide the future of Kyrgyzstan's largest gold deposit and mine, the Kumtor gold mine, President Almazbek Atambayev told reporters on Wednesday.
"Definitely, I would not want nationalization because it is fraught with too many risks," he said.
"I have to acknowledge the arguments of the government, which says our budget will immediately lose 7 billion soms. I have to keep that in mind," the president explained.
"However, if the parliament makes this decision, the government will be compelled to fulfill it in accordance with the constitution," Atambayev added.
"But who will bear the consequences? I am afraid that our country and our people, who are being deceived by the populists, would have to bear them," the president stressed.
The memorandum with Canada's Centerra allots a 46% stake in the new Kumtor joint venture to the government, which can buy an extra 4% stake, he said. "If anyone can achieve more, I would welcome that. But I think that propositions for a 67% stake [of Kyrgyzstan in the new joint venture] are actually seeking to conceal the idea of nationalization of the Kumtor [mine]. We must be realistic and open our eyes," he said.
Centerra says "Kyrgyzstan will have a 46% stake in the prospective joint venture but if we want another 21%, from who can Centerra take it?" Atambayev wondered.
In the opinion of the president, the leaders of parliamentary groups who make such propositions should join the negotiating team.
"Let us give them a chance to prove that these [claims] are not populist. However, the decision about Kumtor has to be made in the parliament, in a roll call vote, so that the country knows its heroes," Atambayev said.
He pointed out that the situation around the Kumtor memorandum, which was concluded by the government and required the parliament's approval, resembled "political games".
"One cannot make decisions with threats of blackmail and the resignation [of the government]," Atambayev said.
