Kyrgyzstan, Central Asia’s second poorest nation, is sitting on a pile of gold, quite literally. For years, the bulk of profits from the colossal Kumtor Mine have been sent abroad. Now, a new government is trying to change that.
In May, the former Soviet republic sparked an international legal battle when it rolled in and took control of the Kumtor Mine, operated by Toronto-based Centerra Gold. The company has reacted furiously to what it sees as state expropriation, saying the country is “in breach of its obligations under its investment agreements.”
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