The Accounts Chamber of Kyrgyzstan revealed financial irregularities at the country’s main gold mine. In this connection, its head, Tengiz Bolturuk, and the financial director were suspended from work.
In connection with the transfer of the Kumtor gold mine under the control of Kyrgyzstan, in May this year, the Accounts Chamber of Kyrgyzstan conducted an audit of the enterprise’s activities. As a result, financial violations were established.
“In particular, fuels and lubricants, food products, spare parts were purchased at prices above market prices,” the Cabinet of Ministers of the Kyrgyz Republic explains.
In this regard, Tengiz Bolturuk and CFO Ryspek Toktogulov have been removed from management at Kumtor. New leaders have been appointed.
On this fact, the General Prosecutor’s Office of Kyrgyzstan, in the manner of general control, began an inspection with the involvement of employees of the State Committee for National Security of the Kyrgyz Republic, the Ministry of Internal Affairs of the Kyrgyz Republic, and the Accounts Chamber of the Kyrgyz Republic.
Based on the results of this check, the authorities of the republic promise to provide the public with complete information.
In addition, on May 17, 2021, external management was introduced at the Kumtor gold mine. An invited specialist from Canada, ethnic Kyrgyz Tengiz Bolturuk, was appointed the head of the company. Previous mine management represented by a Canadian company and Centerra Gold Inc. was removed from management due to multiple violations.
On April 4, 2022, the Cabinet of Ministers of Kyrgyzstan and Centerra Gold Inc. signed an agreement under which Kyrgyzstan becomes the sole owner of the mine. The Canadian company will receive 26% of the share of the Kyrgyz Republic. The parties at the same time waived all mutual claims and lawsuits.
