andash update, page-28

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"Kentor Gold" will continue to work in the field Andash, despite the problems with the local population - Director
Today, 14:29 Source: KirTAG
Bishkek. March 6. KirTAG - Madina Sheraliev. The company "Kentor Gold" does not intend to minimize the project "Andash", despite the problems that arise with the local population. This was announced by Managing Director of the Board of Directors of OAO "Kentor Gold" Simon Milroy at a press briefing on Tuesday.

"We have three major projects, including" Andash. " Tools to run it have been received from investors for a long time, and some of them (investors - KirTAG) have already begun to express impatience and dissatisfaction with the suspension of operations at the mine. But we do not intend to minimize the project, we have hope that we will be able to resume work at the mine, "- said S. Milroy, recall that the work in the field Andash suspended according to the resolution of the Jogorku Kenesh to study a possible threat to the environment.

According to S. Milroy, in a recent meeting with the minister of economy and competition policy Temir Sariev company was able to enlist the cooperation of the Ministry. In particular, T. Sariev promised to give the government a clear message about the project, its potential and importance, and to convey accurate information to local authorities in Talas.

"Also today, the question of the project" Andash "will be considered in committee parliament, and we look forward to a positive decision," - said the managing director.

He said the company is satisfied with the results of the meeting with the Minister.

"The most important fact is that the government supports the project. The local population covers a lot of misinformation, but the project is environmentally safe, we do not have industrial effluents into the environment, we will not use cyanide, and the production will create 450 jobs "- said S. Milroy.

In addition, the project provides a full social package every year to fund local development will be transferred to one million soms, soft loans will be offered to every yard, every family will be allocated funds.

As previously reported, OJSC "Kentor Gold" from 2009 to the present time is a major investor in the project "Andash", the term license is extended until 2017. Release of the first production of "Andash" is scheduled for the summer of 2012 when this company is willing to invest in the project during 2012-2013. $ 106 million in deductions to the budget since the start of production will be $ 30 million per year. In the framework of social responsibility, the company is ready for voluntary contributions to the Fund for Local Development in the amount of 1% of income.

Recall of "Kentor Gold" has projects in Australia (Field Burnakura, Gabaninta, ore occurrence Dzhervoys) and Kyrgyzstan (mine Andash). In the Republic of Kyrgyzskoy company works with 1997, since the company has been invested in exploration of the country $ 10.8 million