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Issue 7, December 2010 (bimonthly)
Industry Update
Legal Update
Interim Government Decree «On
Nationalization of structures
In Kyrgyzstan, 3 companies are engaged
(residence) built on the land plot
in oil deposit operation
"Tash-Bashat" of Kara-Alma
forestry of Suzak district of Jalal-
In Kyrgyzstan, 3 companies hold oil mining Abad region of November 3, 2010
licenses. They include: Kyrgyzneftegas OJSC ВП N 141
(with 85.16% of shares held by the government), International Oil Exploration Company, Beijing) Prosecutor’s Office of the Kyrgyz Republic and South Derric LLC (an Australian company with Interim Government Decree of April 7, 2 companies hold exploration licenses (South Derric LLC and KGN Hydrocarbons CJSC) and nationalization of structures (residence) 15 companies hold oil exploration licenses. built on the land plot «Тash-Bashat» of Jalal-Abad region allocated for temporary Deputy minister of natural resources:
None of the mining companies has left
Interim Government Decree «On
Kyrgyzstan
nationalization of land plot and non-
residential premises located at the
As reported by the deputy minister of national address: 3 Neftyannikov St., Jalal-
Abad dated November 3, 2010 ВП N
AKIpress, in Kyrgyzstan none of the mining companies has stopped operations. According to him, investors have only reduced the scope and duration of their operations. «Even in the south Prosecutor’s Office of the Kyrgyz Republic where the main events took place, no reduction of August 27, 2010 and in accordance with of operations has been observed. There were many letters to the ministry signaling that in some regions the volumes of investments have reduced, but that’s all, reported L. Oseledko. nationalization of the land plot and non- address: 3 Neftyannikov St., Jalal-Abad, Resolution of Government of
South Korean company acquired
exploration license for 12 types of metals
Kyrgyz Republic «On procedure for
in Kyrgyzstan
holding competition for right to
mineral resources for mining of
gold deposits Terekkan,
Molybdenum development company» LLC has Perevalnoye, gold and antimony
acquired 3 exploration licenses for silver, lead, deposit Terek and for exploration of
copper, antimony, mercury, cesium, rubidium, Tereksai area» of December 27,
lithium, niobium, tantalum, molybdenum, and 2010 N 151-р
bismuth. All licenses were acquired on October 6. One license entitles to explore for silver, lead, In accordance with Article 16 of the Law of the Kyrgyz Republic «Оn Subsoil», for the copper, antimony and mercury in Bardambot area (Jumgal district, Naryn region). Another entitles to explore for cesium, rubidium, lithium, niobium and tantalum in Tujuktor area (Kochkor district, Naryn region). And the third entitles to explore for copper, molybdenum, and bismuth in Terek and exploration of Terek area, there was approved the procedure for holding Novotujuk area (Issykata district, Chui region). mineral resources for the development of gold deposits Terekkan and Perevalnoye, and gold and antimony deposit Terek and Over a month period the Ministry of
natural resources has issued 36 licenses
Resolution on allocation of gold and
and for one of them it was paid a $1,000
tungsten deposits Saryjel and
Kumbel for the development by one
of the companies
In Kyrgyzstan, over the period since September 18 till October 18, the Ministry of natural the government on conversion of land from mine/explore for mineral resources. For one of them a bonus of 50.4 thou. soms ($1 thou.) was transport, telecommunication, defense and paid. The licenses, over the reporting period, other purpose located in the territory of Jege Tal village district of Naryn region With the introduction of bonus requirement in 2009, the biggest amount was paid by Kumtor deposits, reported the head of government Gold Company - $18.696 ml. The amount of bonus for Jerooy gold deposit was $6 ml., Taldy- The Resolution directed to convert 118 ha Bulak Levoberezhny - $4 ml, Bosymchak - $2 of land, including 80.33 ha of pastures and ml, Kuru Tegerek - $1.8 ml., Terekkan - $1.6 ml, 37.67 ha of other lands used in agriculture Andash cooper and gold deposit - $1.5 ml., The amounts of bonuses in 2009 were reduced This plot will be provided for fixed-term «to retain the current licensees and attract private investments in crisis conditions». development of gold and tungsten deposits Rokisol LLC of compensation for losses of according to the rates determined by the «Kyrgyzneftegas»: A foreign company
intends to build in Kyrgyzstan a gasoline
refueling station and oil processing plant
project documentation with expert opinions memorandum of understanding with a foreign in respect of environmental and technical company, reported the deputy chairman of the AKIpress in November. According to him, this ensure review and approval of construction unknown company which «has its own place in the geology industry and annual turnover of $17 deposits according to the current rules and billion», has «serious intentions to build in Kyrgyzstan a network of gasoline refueling KR Government Resolution “On
Development of Jerooy gold
deposit” dated November 18, 2010
Over 13 years, private investments into
geological exploration for mineral
resources have increased 16 times as
CJSC has not performed the conditions of license agreement № 3 dated October 23, Since 1996, private investments into geological exploration for mineral resources in Kyrgyzstan license № 639 АЕ dated July 19, 2006, for reported the Ministry of natural resources to Republic, the right to mineral resources is investments into mineral exploration reached terminated by withdrawal (revocation) of more than $4.7 ml. In 2009, this indicator was license from a licensee if it fails within the $76.7 ml. In 2008, the volume of investments time limits specified in the license to submit a technical work project approved by the environmental and technical safety and by In this regard, the Government instructed - to cancel the mining license of Jerooy № Three companies acquired the
documents worth of 200 thousand soms
to compete for the right to develop gold
deposits Terekkan, Perevalnoye, and
rights to develop Jerooy gold deposit and necessary to compete for the right to use mineral resources of gold deposits «Terekkan», «Perevalnoe» and gold and antimony deposit Terek through the tender, which will end on December 6. However, neither company has filed the documents to participate in the tender, reported the Ministry of natural resources to Business AKIpress. Each competitor paid a non-refundable fee of 200 thou. soms for a set of geological information. All legal entities and individuals experienced in the development of ore deposits of mineral resources can take part in the tender. 01.12.10

4 companies are prohibited from
operating at Sulukta brown coal deposit

4 companies prohibited from operating at
Sulukta brown coal deposit, reported the
ministry. It is reported that the State Inspectorate
for industrial and mining safety (Mining Control)
under the Ministry of natural resources has
conducted control inspections at the enterprises
producing Sulukta brown coal.
Control inspections at mines of K.Raimberdiev
LLC, Uzun-Sai LLC, Suluktakomur OJSC and
Kutchu LLC revealed «gross violations of
industrial safety requirements».
Based on the findings of inspections and for
systematic violation of industrial safety
requirements, the Mining Control standing expert
committee has ruled to suspend operations at
K.Raimberdiev LLC and Kutchu LLC and to
suspend licenses to operate hazardous
production facilities of Uzun-Sai LLC,
Suluktakomur OJSC for 3 months until
rectification of violations revealed, as specified in
the inspection reports.

02.12.10
Value of shares in Centerra at Canadian
stock exchange has reached its
maximum amount over the recent 4
years

The value of shares of Centerra Gold gold
mining company at the Toronto Stock Exchange
continues to grow and at the close of day on
December 1 it reached CAD 20.90 per share. In
24 hours, the value increased by CAD 0.860 or
4.29%. At the close of day on November 30, the
per share price was CAD 20.040.
The price of CAD 20.900 is the highest price
over the last 4 years. Earlier, the maximum rate
was registered on November 1 — CAD 20.35.
Shares of Centerra have been traded at the
Toronto Stock Exchange since 2004.
In April 2009, the Kyrgyz Government has
increased its share in Centerra from 15.66% to
33% (77.3 million shares).

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Source: http://www.k-a.kg/sites/default/files/miningiludec2010eng.pdf