The Kyrgyz government has prepared a draft document on the nationalization of Kumtor

Almaty. February 26. Silkroadnews - The Cabinet of Ministers of Kyrgyzstan has prepared a draft document, in case of the need to nationalize the Kumtor deposit, transmits KyrTAG referring to the Prime Minister of Djoomart Otorbaev.
According to the government, the Kyrgyz authorities have to find a compromise solution on Kumtor that satisfies all parties. For this, the Cabinet has worked through many possible scenarios.
The head of government recalled that the negotiation process between the Cabinet and the Canadian side is completed by 95%.
"We are waiting for the results of the audit, which will be provided on March 26. Only after this, negotiation process may be completed", - said the Prime Minister at the parliamentary session on Thursday.
Therefore, Dj. Otorbaev asked deputies to give the government a two-month deadline for completion of negotiations with Canadian investors.
As recalled by the agency, the government negotiated with the Canadian company Centerra Gold Inc to restructure the Kumtor project. It was planned to establish a joint venture to service the mine and extract the gold with an equal division of fractions 50-50. Kyrgyzstan will receive a 50% stake in the joint venture but for this it has to transfer to Canadian side its stake in Centerra Gold Inc - 33% or 77.4 million shares. The shareholder is JSC "Kyrgyzaltyn",  securities  are posted on the Toronto Stock Exchange.