LONDON, March 25, 2026 /PRNewswire/ — A group of international investors (the “Group”), which has committed substantial capital and many years of effort to the development of the Tulkubash and Kyzyltash mining assets, issues this statement to express serious concerns regarding recent developments involving Chaarat Gold Holdings Limited (“Chaarat Gold”) relating to these assets.
The Group has been a committed and constructive partner to the Kyrgyz Republic. We have shared a vision to transform Tulkubash and Kyzyltash into examples of a modern, transparent, and world-class mining industry. Our vision has always been to ensure that Kyrgyzstan’s natural resources deliver long-term benefits to the Kyrgyz people through job creation, infrastructure development, and responsible growth.
The Group views the recent announcements regarding the proposed sale of Chaarat Gold’s interest in these assets (the “Sale”) as the culmination of a deeply concerning sequence of actions and decisions surrounding strategic assets.
The Group is profoundly concerned by the process leading up to, and including, the Sale, including the apparent disregard for the rights and interests of longstanding investors. The Group wishes to make its position clear: we will not remain silent.
The reputation of the Kyrgyz mining sector is a vital national asset. When international best practices are upheld and stakeholder rights are respected, confidence in the country’s investment climate is strengthened. Any departure from these principles risks undermining that confidence.
We remain committed to supporting the growth of Kyrgyzstan’s mining industry. Such growth must be underpinned by:
- Fairness to all stakeholders;
- Genuine partnership with local communities and the Kyrgyz state;
- Full respect for Kyrgyz law and national sovereignty.
The Group is deploying appropriate legal resources to safeguard its rights and to protect the integrity of the Kyrgyz mining sector and international investment in Kyrgyzstan generally. We are determined to ensure these assets – and their role in the Kyrgyz economy – are treated with the respect and care they warrant.
We call for full transparency regarding the Sale, including the events leading up to it, and expect all parties to adhere strictly to their legal obligations.
We invite parties impacted by these developments, or who have an interest in the future of Tulkubash and Kyzyltash, to join us in promoting transparency, fairness, and accountability.
For further information or legal inquiries, please contact the Group’s legal advisor, Cleary Gottlieb Steen & Hamilton LLP: chaarat@cgsh.com.
