When commenting on the reasons behind the Bank’s decision to exercise its preemptive right to purchase Kazakhstan-produced gold, Mr. Marchenko pointed to lack of transparency in gold exports following the liberalization of the national market of precious metals.
The project could be implemented either solely by the state or in partnership with private investors: Vice Prime Minister and Minister of Industry and New Technology Asset Issekeshev.
Summer Gold will pay $5.1 million to Kyrgyzstan for delays in construction of a gold plant. Kyrgyz government intentionally hindered construction, the company says.