Bishkek, Nov. 23, 2017. /Kabar/. Kyrgyz President Almazbek Atambayev signed the Law of the Kyrgyz Republic "On Amending the Water Code of the Kyrgyz Republic", the Kyrgyz President’s press service reported.
The law was adopted by the Kyrgyz Parliament on Nov. 16, 2017 and supported by the Government of the Kyrgyz Republic.
The goal of the Law is the legal regulation to impact the mining industry on glaciers. The law is aimed at creating the conditions for uninterrupted production at Kumtor and relates exclusively to 2 glaciers (Davydov and Lysyi). In total there are 6771 glaciers on the territory of the country.
It is estimated that the volume of the Davydov glacier is 0.14% of the total glacier area of the country. At the same time, from 1995 to 2002 due to climate change conditions, the Davydov glacier shrinked by 170 m, and the Lysyi glacier by 70 m.
Based on both domestic experts’ and international legal consultants’ conclusions the shutdown of mine production can lead to significantly negative geotechnical, environmental, socio-economic and legal consequences.
In 2016, Kumtor project’s share to country's GDP was 8%, annual direct and indirect revenues to the republican and local budgets is 7-8 billion soms.
In adopting this law, several factors were taken into account. Kyrgyz Republic in September of the current year concluded a Strategic Agreement with the company Centerra Gold Inc. for the Protection of the Environment and Development of Investments. Based on this agreement Canadian investors took obligations to form the Foundation for Protection of Nature ($ 50 million), by increasing annual environmental payments from $ 310 thousand to $ 3 million and support the oncology center ( $ 10 million)
The law enters into force after ten days of its official publication.