Kyrgyzstan plans to produce 17 tonnes of gold in 2022

BISHKEK. April 25 (Interfax) - Kyrgyzstan is planning to produce roughly 17 tonnes of gold in 2022, Kyrgyz President Sadyr Japarov said.

"There are plans to produce around 17 tonnes of gold in the country this year," Japarov said on Monday during an interview with Kyrgyz news agency Kabar.

The agreement reached with Canada's Centerra Gold Inc. will enter into effect in three months, he said.

"As soon as the agreement goes into effect, I'll be ready to share all information with the general public, we have nothing to hide. The agreement meets the interests of the people 99%, I'll be ready to explain everything later," Japarov said.

Japarov said on April 4 that Kyrgyzstan had assumed full ownership over the Kumtor gold mine and that Centerra Gold Inc., which developed the mine, had ceased all litigation in the United States, Sweden, and Canada and "agreed to make a one-off payment of over $50 million to Kyrgyzstan."

Kyrgyzaltyn will transfer all of its 77.4 million Centerra common shares to Centerra, which is approximately 26% equity interest in the company.

The mine, one of the largest in Central Asia, was developed by Centerra Gold subsidiary Kumtor Gold Company. The Kyrgyz authorities hit the company with more than $3 billion in financial claims for violating environmental laws in May 2021. The Kyrgyz government's press service announced on May 18 that external management had been appointed at the mine.