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Kutisay Mining ordered to suspend production of rare earth metals

1 July 2013

Kyrgyz government recently brought to its logical final trial with the mining company «Kutisay Mining» (included in the group of «Stans Energy KG», funded by the Canadian investors) recently Bishkek inter-district court ordered the organization to urgently suspend the extraction of ore in the field of rare earth metals «Kutessay -II «.

Litigation around the Kyrgyz mine REM has been going on for several years, but official recognition of the fact that the license for the development of this field is illegitimate, took place just now. We know that this decision was made at the request of the Prosecutor General of the country. In parallel with this event, Kyrgyzstan Gosgealogiya refused «Kutisay Mining» in accordance of previous works for the extraction of rare earth metals for the current year. For companies, this means, above all, the inability to coordinate its activities with Canadian investors, which will result in shortages of funding.

«The situation is not the best impact on the inhabitants of the nearby village of Ak-Tuz, because most of them are engaged in the work in the enterprise» — describes the current situation of local journalists. «At the beginning of the second half of 2013 will remain out of work about 100 people at the same time» Kutisay Mining «will not be able to provide the proper amount of financial support for their employees social package» — commented the representatives of the management of the organization.

In the field of rare earth metals Kutessay-II (Kemin district, Chui region) extracted elements yttrium and cerium groups are present in the ores of bismuth, copper, molybdenum, silver, beryllium, lead, tin, zinc, thorium, hafnium, niobium, tantalum and zirconium. This is a valuable raw material finds its application in many industries — including — in radio and instrumentation, nuclear engineering, optoelectronics, and in industry (in the manufacture of special steels). The reserves of rare earths of this field in the Soviet period were estimated at 53 thousand. Tons, but the geological exploration carried out on the site in 2011, revealed additional mineral deposits.

Last year the press reported: A Guide «Kutisay Mining» planned in 2013 to release the gross output of 30 million dollars, and in 2014 — more than $ 40 million and create more than 1,500 new jobs in the region… However, apparently these plans, the company's management was not destined to come true.

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