News In Brief

You think it’s tough doing business here?

Paddy Hirsch Aug 23, 2011

Try Kyrgyzstan. At least one major foreign-run gold mining operation had its license suspended there, another was slapped with a $5 million fine, and a third had its exploratory camp burned down by marauding horsemen.

Eurasianet.org reports gold producers will be forbidden from shipping gold ore out of Kyrgyzstan. Starting next year, gold is only to be processed in-country, an official from the Ministry of Economic Regulation says. Exporters of gold concentrate, a purer mix than ore, will have to pay an extra tax before taking the material out.

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