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Canadian gold mining company Centerra Gold Inc. confirmed the fact of negotiations with the Kyrgyz authorities and discussion of an amicable agreement between the parties.

Centerra, through its subsidiary Kumtor Gold Company, developed the Kumtor mine, the largest high-altitude gold deposit in Central Asia. Kyrgyzstan owns over 26% of Centerra’s shares and is the largest shareholder in the company.

The scandal around the Kumtor mine began in early May. First, the court ordered the Canadian company to pay a multi-billion dollar fine for environmental violations, and later the Kyrgyz authorities introduced external management at Kumtor.

On January 3, a Canadian company issued a message “in addition to statements in the media about a possible contractual transfer of the Kumtor mine to Kyrgyzstan”.