On January 26-27, 2011, Mr. Stephen Lang, President and CEO of Centerra Gold Inc. paid a working visit to the Kyrgyz Republic.
As part of his visit’s program, the President of Centerra Gold met with President of the Kyrgyz Republic Roza Otunbayeva, Speaker (Toraga) of Jogorku Kenesh Akmatbek Keldibekov, Prime Minister Almazbek Atambayev, First Deputy Prime Minister Omurbek Babanov, and also with heads of representative offices of International Monetary Fund and World Bank in the Kyrgyz Republic.
During these meetings, Stephen Lang informed the Kyrgyz leadership about Centerra’s results in 2010, noted the increased gold production at Kumtor and greater tax contributions to the Kyrgyz national budget. In addition, he disclosed the company’s plans in the near term, its intention to assign over $200 million1 in growth capital investment in Kyrgyzstan’s largest deposit while maintaining high production rates. Mandatory payments in 2011 are expected to exceed US $100 million.
For her part, the Kyrgyz President said Kyrgyzstan was ready to consider Centerra’s offers to participate in other economic projects in Kyrgyzstan.
Toraga of Jogorku Kenesh Akmatbek Keldibekov, during his meeting with Centerra’s delegation, emphasized that the Agreement ratified in 2009 was most effective and advantageous to the Kyrgyz party. “Our country will observe the agreement we signed with Centerra,” he said.
Also, Mr. Lang had a constructive meeting with Prime Minister Almazbek Atambayev and First Deputy Prime Minister Omurbek Babanov of Kyrgyzstan. During the meeting, the parties agreed on necessity of further extension and expansion of mutually beneficial cooperation.
For his part, the President of Centerra Gold, Stephen Lang, said the Company would keep operating as efficiently as possible in the interests of all shareholders, of which the Kyrgyz Republic is the largest.