Oxus Mining plc has halted work on the feasibility study of the development of the Jerooy gold project in Kyrgyzstan. The company was recently informed by the Kyrgyz Government that its mining licence for Jerooy had been revoked because of delays in the completion of the feasibility study and site development (MJ, July 12, p.30). Oxus disputed the annulment on the grounds that various tax privileges (required for the completion of the study) had not been granted, and that the historically-low gold price in recent years triggered provisions in the 1998 joint-venture agreement concerning Jerooy that released the company's 96 percent-owned subsidiary (Norox) from obligation to complete the study.
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