The CAMECO (Canadian Mining and Engineering Corporation) company wants buy the rest shares of the Kumtor Operating Company (KOC). The KOC is a joint venture between Kyrgyzstan and CAMECO, which develops the Kumtor gold mine in Kyrgyzstan and was formed in 1992. Chairman of a parliamentary committee of Kyrgyzstan Akylbek Japarov told RFE/RL correspondent on 14 November, that CAMECO offers $240 million for the 67 percent of the shares, which belong to the Kyrgyz government.
KOC produced about 100 metric tons of gold at Kumtor already, paying about $50 million in taxes. According to the agreement between Kyrgyzstan and CAMECO, the sides share profit only not the produced gold. Kumtor is one of the biggest gold deposits in the world, there are more than 500 tons of gold in it.
KOC produced about 100 metric tons of gold at Kumtor already, paying about $50 million in taxes. According to the agreement between Kyrgyzstan and CAMECO, the sides share profit only not the produced gold. Kumtor is one of the biggest gold deposits in the world, there are more than 500 tons of gold in it.