Kyrgyzstan Prime Minister Mr Jantoro Satybaldiev endorses Manas Resources in local news articles

Manas Resources has recently featured in Kyrgyzstan media outlets. A translation of these articles can be seen and read below.

First International Batken Investment Forum - Shambesai Project to be launched as scheduled (Russian) - 30 April, 2013

Below is a translated excerpt from the article

The 1st International Investment Forum on Batken Region Development �Batken 2013� was held on April 26 in Batken. The forum was attended by the Prime Minister, Government members, Parliament members, head of diplomatic missions accredited in Kyrgyzstan, and representatives of other countries. The key objective of the forum was to familiarize international investors and donors with the investment climate in the region.

During the first part of the event, the guests were invited to attend the exhibition of investment projects in Batken Region, including the Shambesai Gold Project in the Maidan Rural District, Kadamjai, Batken Region. At the Shambesai Project booth, the Prime Minister Mr Jantoro Satybaldiev asked the representatives of Z-Explorer CJSC (subsidiary of Manas Resources) when the production was expected to commence [at Shambesai]. The General Director of Z-Explorer CJSC Mr Oleg Gaponenko said that, in accordance with the current plans [of the company], the construction would be completed in September 2014 and first gold would be produced in December 2014. Mr Satybaldiev noted the importance of the Shambesai Project for local employment in the region and instructed regional authorities to assist Z-Explorer with the [further] development of the Shambesai Project and establishment of partnership relations with the local community in particular.

During the general discussion of the issues in the industry as well as mining and energy sectors, Mr Gaponenko noted that Z-Explorer had already invested over US$13 million into the Kyrgyz mining sector and was planning to invest another US$35 million into the development of the Shambesai Project. Based on the Company�s estimates, about US$50 million will be allocated as taxes and charges payable on gold production and sales to the Kyrgyz budget, including the local budget. The allocation of 2% of revenues on gold sales as non-tax charge, which will add up to about US$5 million over the six years of the project life, to the budget of the Maidan Rural District will significantly contribute to the socioeconomic development of the region.

He also emphasized that, along with its contributions to the socioeconomic development of the region, Z-Explorer paid great attention to environmental management. There will be zero discharge from the process plant area to the Isfairam River as the design allows for a closed water return system. The proposed heap leaching technology does not require tailings dam construction so environmental impacts will be minimal.

In coordination with local administrations, the Company is now developing a social package in compliance with the criteria the Kyrgyz Government established for mining companies: local employment, professional skills training and infrastructure development. The social package is intended to ensure sustainable social progress and economic development in Batken Region and particularly in Maidan Rural District not only during the Shambesai project life cycle, but also beyond it.

Click here to read the full article (please note the article is in Russian)

The new head of the Kadamjay District Administration Mr Akramjan Madumarov visiting the KR Prime Minister Mr Jantoro Satybaldiev - 6 May, 2013

Below is a translated excerpt from the article

During the meeting, the KR Prime Minister noted that the Kadamjay District, similar to other districts of the Batken Region, had great potential for development. He emphasized the importance of stability of operations and increase in production at the Kadamjay Antimony Plant, Aydarken Mercury Plant and [the regional] cement plant. Mr Jantoro Satybaldiev made it clear that the active work was needed to restore the engineering plant and enable the early start of operations at the Shambesai gold deposit.

Click here to read the full article (please note the article is in Russian)

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