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Bishkek, Kyrgyzstan, November 17, 1997
Kumtor Operating Company President Gerhard Glattes today announced that the Kumtor Gold Project had already surpassed its planned gold production for 1997.
Kumtor reached its projected annual production last week, on November 6. As of that day, the gold mining partnership had poured 410,638 ounces of gold, the amount that originally had been projected for all of 1997.
"We are pleased to be so far ahead of our production targets for 1997," President Glattes said. "We have known for some time that our gold production figures were far better than anticipated. But to be able to fulfill our production plan seven weeks ahead of schedule is very gratifying. Our success certainly would not have been possible without the support of Kyrgyzstan's President Askar Akaev and his government for our operations."
State Concern Kyrgyzaltyn President Dastan Sarygulov noted that Kyrgyzstan is now the third largest gold producer in the CIS, surpassing the Republic of Kazakhstan's gold production.
Kumtor Operating Company began commercial production at the mine May 1, 1997, after the commissioning of its mill. Earlier, construction of the Kumtor Project had been completed on schedule at the end of 1996.
The Kumtor gold project is owned two-thirds by the government of Kyrgyzstan and one-third by the Canadian Cameco Corporation. Kumtor Operating Company, a wholly owned subsidiary of Cameco, is the project operator.
For further information, please contact:
| Irene Lewis Director Corporate Relations Kumtor Operating Company Bishkek, Kyrgyzstan Phone: (3312) 42-22-82, 42-24-88 |
Elaine Kergoat Manager, Media & Public Relations Cameco Corporation Phone: (306) 956-6315 Fax: (306) 956-6318 |