He made the comments to Bloomberg as the company considers options to resolve the issues surrounding its flagship asset which produces about 500,000 ounces of gold a year.

The government, whose Kyrgyzaltyn JSC also owns 26% of Centerra, took temporary control of Kumtor in May, citing environmental, health and safety concerns which Centerra denies.

The Kumtor Gold Company has also dismissed Centerra's efforts to seek protection in the US under Chapter 11 bankruptcy proceedings for its Kyrgyz subsidiaries. 

KGC said last week it was deeply concerned about Centerra's "illegal decision" to file.

"This decision has no legal effect and KGC considers this decision to be made by Centerra Gold Inc in its own interests in order to avoid responsibility and jeopardise the KGC operations," KGC said.

"The Kyrgyz Republic is a sovereign state, that cannot be subject to actions taken by the United States Bankruptcy Court.

"The KGC operations are exclusively governed by the law of the Kyrgyz Republic.

"KGC remains a financially sound company and does not disclaim the responsibility for timely settlements with suppliers of goods and services to ensure that the Kumtor mine is operated in the foreseeable future as normal."

It said KGC would continue to fulfill its social responsibilities, obligations to the budget of the Kyrgyz Republic, its employees and contractors.

The gold mine accounted for about 12.5% of Kyrgyz's gross domestic product in 2020 and for about two-thirds of Centerra's free cash flow.

Centerra has also initiated international arbitration proceedings and has begun a strategic review to consider alternatives to enhance value for shareholders.

The Canada-based company also has the Mount Milligan mine in British Columbia and the new Oksut mine in Turkey.

Centerra shares (TSX: CG) have shed about a third in value this year and hit a one-year low of C$8.21 in May.

They closed down 0.5% yesterday to $9.96, capitalising it at $2.9 billion (US$2.4 billion).