KYRGYZSTAN BANS FOREIGN FIRMS FROM FUTURE MINES

Kyrgyzstan on Friday banned foreign companies from future large mining projects, although existing licences are unaffected, in the first major order by its new president. The economy of the Central Asian nation relies heavily on gold mining, particularly after two other sources of wealth — trade with neighbouring China and remittances from migrant labourers working in Russia — were hit by the COVID-19 pandemic. Kyrgyz President Sadyr Japarov, shown, signed the order which only allows the development of “subsoil areas of national importance” by a stateowned company. Firms currently holding rights to develop deposits in the country are excluded. Canada's Centerra Gold Inc. with its Kumtor gold mine is the largest foreign investor in Kyrgyzstan.