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. Last Updated: 07/27/2016

Kyrgyz Mine Plan Axed

(MT) - A parliamentary commission in Kyrgyzstan recommended that the Kyrgyz gold mining contract with Canadian Kameko be canceled, Itar-Tass news agency reported Monday.

Kameko is preparing a feasibility study for gold mining in the Kumtor mountain. The commission said that the contract for the study leads to "squandering of the republic's national wealth", because Kameko is investing $45 million into its own subsidiary rather than into the state budget.