Even though Kyrgyzstan is a major shareholder of the Centerra Gold Inc. , it can't influence on work of the Kumtor mine, Prime Minister of Kyrgyzstan Jantoro Satybaldiev told reporters on January 10 . " Kumtor received $145 million of net profit in 2013. Kyrgyzstan received dividends of $12 million only. After payment of 5% taxes, we obtained only $11.4 million . If we work under the restated agreement, we would have the right to 50% of this $145 million ," the Prime Minister emphasized. The Kumtor mine and Centerra Gold Inc work according to the Canadian legislation now. Kyrgyzstan doesn't have a big influence on decision making process, the Prime Minister underlined. "We offered 13 different options for Kumtor project restructuring. The joint venture option was chosen eventually, which will work by the legislation of the Kyrgyz Republic ," the Prime Minister explained. If the Parliament supports this draft agreement, the government will consider further agreements. "Other agreements will be finalized and proposed then," he stated.
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