Kumtor is a gold mine in Kyrgyz Republic which is operated by Centerra Gold Inc. (Centerra is a Canadian mining company TSX: CG). The mine and the output of the mine 100% belongs to Centerra. Kyrgyz government and Centerra revised the contract in 2009, which gave to government a 33% of stocks in the company(it was ). According to the Telegraph, “The Kumtor mine accounts for more than half of [Kyrgyzstan’s] industrial output and generates about an eighth of its national income.”
In 2012 some Kyrgyz politicians (btw.I am from Kyrgyzstan) claimed Centerra that they are over polluting the environment in Kumtor area, and it is going to lead to the ecological disaster across the country, so they want to close the enterprise. Basically, what these politicians are trying to do is to kick Canadians out of the country and then to nationalize the mine, so that is why they are making up all kind of complaints. It is obvious that even if Canadians will leave the country, Kyrgyzstan will continue to operate the mine and nothing is going to change. However, in July 2012, Kyrgyz parliament voted against nationalizing Kumtor.
In my opinion if Canadians will leave the country (they will not), we will not be able to operate the mine and we will be bankrupted. Moreover we will lose faith of all foreign investors. If Kyrgyzstan will lose investors, we will not be able to develop the economy. There are 3,738 workers on Kumtor mine. What is going to happen if all of them will lose their jobs? It means that 3,738 families will be left without food. As many other deputies, I am against of nationalizing Kumtor.
“Let them work, do not bother them!”(me)