JULY 24 2012 (The Conway Bulletin) – Gold producer Highland Gold, 40% owned by Russian billionaire Roman Abramovich through his investment vehicle Millhouse Capital, won licences to produce gold at its two exploration sites in Kyrgyzstan. Tenders on a series of other Kyrgyz gold mining prospects are expected to be handed out next month.
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(News report from Issue No. 098, published on July 27 2012)
JULY 17 2012 (The Conway Bulletin) – South Africa-based Gold Fields is preparing to buy the 40% of the Talas gold mine in Kyrgyzstan it doesn’t already own for $10m from London- based Orsu Metals, the companies said. Gold mining is important to the Kyrgyz economy although there have recently been a series of high-profile set backs for investors. Last year armed horse riders raided the Talas gold mine.
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(News report from Issue No. 097, published on July 20 2012)
JUNE 27 2012 (The Conway Bulletin) – Parliamentarians in Kyrgyzstan voted against nationalising the Kumtor gold mine owned by Canada’s Centerra Gold, after a report accused it of a series of environmental infringements. Instead, parliament ordered a review to recommend boosting its stake in Centerra Gold, which currently stands at 33%.
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(News report from Issue No. 094, published on June 29 2012)
JUNE 19 2012 (The Conway Bulletin) – Capital Group Company, owned by Russians Dmitri Korzhev and Dmirtri Troitsky, has bought a copper ore and gold mine in Georgia from GeoProMining for $120m, media reported. Capital Group Company already owns a mine in Armenia. Despite political animosity, Georgia and Russia have close business links.
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(News report from Issue No. 093, published on June 22 2012)
JUNE 19 2012 (The Conway Bulletin) – Kyrgyzstan has announced it will tender mining rights to 93 gold deposits on Aug. 20/21, media reported. Mining, especially gold, is Kyrgyzstan’s main economic lifeline and the Kumtor mine, operated by Toronto-listed Centerra Gold, accounts for around a third of the country’s GDP.
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(News report from Issue No. 093, published on June 22 2012)
MAY 3 2012 (The Conway Bulletin) – The US-funded Radio Free Europe/Radio Liberty published an investigation into the UK gold mining company AIMROC which it says is owned by the family of Azerbaijani President Ilham Aliyev through a series of Panama-registered companies. In 2007, the Azerbaijani government awarded AIMROC a lucrative gold mining contract.
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(News report from Issue No. 086, published on May 4 2012)
APRIL 23 2012 (The Conway Bulletin) – Anglo Asian Mining, which is listed on London’s AIM stock market, announced it has found a new gold deposit in Azerbaijan. The find, around 350km west of Baku, is significant as its boosts Azerbaijan’s overall gold reserves. The Azerbaijani government owns a 49% stake in Anglo Asian Mining.
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(News report from Issue No. 085, published on April 27 2012)
MARCH 27 2012 (The Conway Bulletin) – Toronto-based Centerra Gold cut gold output at its Kumtor mine in Kyrgyzstan by a third, threatening the stability of the Kyrgyz economy. Kumtor accounts for around 12% of Kyrgyzstan’s annual income. Centerra Gold, 33% owned by the Kyrgyz government, blamed the output cut on excessive ice in the mine.
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(News report from Issue No. 081, published on March 30 2012)
FEB. 6 2012 (The Conway Bulletin) – Around 1,400 workers at the Kumtor gold mine, which makes up around 12% of Kyrgyzstan’s national income, started a strike over new tax payments which they say their employer should pay on their behalf. Centerra Gold, the Canadian company which owns and operates the mine, said the strike was illegal.
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(News report from Issue No. 76, published on Feb. 9 2012)
FEB. 3 2012 (The Conway Bulletin) – Underlining its position as the world’s biggest uranium producer, Kazakhstan’s atomic agency Kazatomprom announced it increased uranium output by 9% in 2011. The 20,000 tonnes Kazatomprom mined in 2011 was the equivalent of about a third of the world’s total uranium production.
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(News report from Issue No. 76, published on Feb. 9 2012)
