Kyrgyz government restricts operations of foreign investors in domestic mining sector

Sadir Japarov, President of Kyrgyzstan Photo: 24TV

The government of Kyrgyzstan has restricted the activities of foreign investors in the domestic mining sector, that became part of the order, which was signed by the newly elected President of the country Sadyr Japarov.

 

In accordance with the order, only state-owned companies will be allowed to develop the country’s largest mineral reserves, particularly those, which have a status of national importance.

 

According to press-service of the Kyrgyz Presidential Administration, the new Presidential order will prevent the transfer of the country’s largest mining fields under the control of foreign investors.

 

Japarov officially took office as president on January 28. Previously, he actively advocated the beginning of state nationalization of mineral reserves of the country, including the Kumtor gold mine, which is one of the largest gold mine in Kyrgyzstan, which is being developed by foreign investors. Currently, the development of minerals base of the country is mainly carried out by foreign companies, including those from Russia, China and Canada.

 

By: Eugen Gerden