S&C Advises Centerra Gold in Strategic Agreement with KyrgyzstanSeptember 27, 2019
In August, long-standing S&C client Centerra Gold successfully reached a strategic agreement with the Government of Kyrgyzstan, bringing to a successful conclusion the disputes over Centerra's Kumtor gold mine. As a result of the agreement, all outstanding Kyrgyz legal proceedings affecting the Kumtor Project, as well as the international arbitration proceeding at the Permanent Court of Arbitration, have been terminated. As part of the agreement, Kumtor Gold has made contributions to environmental and social development funds within Kyrgyzstan.
The Kumtor gold mine is the largest gold mine operated in Central Asia by a Western-based company, and contributes approximately 10 percent of Kyrgyzstan's GDP and over 20 percent of its aggregate industrial output. S&C acted on the original project financing of Kumtor in 1996.
The S&C team advising Centerra on this matter was led by S&C partners Joseph Neuhaus and Stewart Robertson and also included associates Sam Saunders, Liz Botcherby and Maria Slobodchikova.
Read more about our international arbitration and dispute resolution practice here.