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Approved : Mar 9, 1995 Signed : Jun 28, 1995 Invested : Sep 11, 1995
Project Description
Commercial development of the Kumtor gold deposit through open-pit mining, construction of a conventional carbon-in-leach (CIL) cyanide treatment plant and associated infrastructure facilities.
Sponsor / Cost / Location
Kumtor Gold Company is owned 2/3 by Kyrgzaltin, a state entity and 1/3 by Kumtor Mountain Corporation, a wholly-owned subsidiary of Cameco Corporation of Canada. Cameco will provide the management.
Approximately US$335 million (including contingencies and escalation)
40.0 million (USD)
Product Line
IFC Investment (million USD)
Risk Management
Guarantee
Loan
40.0
Equity
* These investment figures are indicative
The deposit is located at an elevation of 4,000 meters in the remote southeastern mountainous region of the Kyrgyz Republic in a zone of permafrost and glaciers.
Development Impact
This is a category A project under IFC’s environmental review procedure. Cameco has prepared a detailed environmental assessment (EA) which adequately addresses the environmental issues associated with the project. Cameco has also undertaken necessary public consultation and disclosure in accordance with IFC policy. Environmental issues associated with the project include loss of habitat, erosion, effluent discharge, and reclamation planning. Occupational health and safety issues include provision of adequate training, proper hazardous substance handling and storage, work place air quality, and provision and use of personal protection equipment. Location of environmental documents In locally affected community
Press-Release
Related ESRS/ERS
Similar Projects
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