Business Ombudsman of Kyrgyzstan comments on situation around Kumtor mine

AKIPRESS.COM - Businesses, current and potential investors are concerned about the possible consequences of the situation and about their own business, said Business Ombudsman of Kyrgyzstan Robin Ord-Smith commenting on the situation around the Kumtor mine.
In order to get out of the current economic crisis, business must be confidence in the rule of law and due process, in a predictability and stability of an environment in which the rights and legitimate interests of entrepreneurs and investors will be respected and protected, he said.
The Business Ombudsman hopes that even at this late stage the parties will be able to negotiations and come to settlement of the issue taking into account the interests of all parties.
Parliament of the Kyrgyz Republic told the government to impose external management on the Kumtor Gold Company at the extraordinary session on May 17 for the environmental breach posing direct threat to lives of people.
The Parliament of Kyrgyzstan passed the bill enabling introduction of external management at Kumtor Gold Company in 3 readings immediately on May 6.
The Oktyabr district court of Bishkek on May 7 found the placement of rock waste on the Davydov and Lysyi glaciers as a result of development of the Kumtor gold mine unlawful and held to collect 261,719,674 billion soms (over $3 billion) and the state duty of 1,308,653,370 soms. According to the court, the Kumtor Gold Company placed 1.2 billion tons of rock waste and this way destroyed 183 million cbm of glaciers.
On May 14, President Japarov signed into law the amendments.