Centerra delays completion of deal over Kumtor mine as Kyrgyz PM mull revisions

MINEX Forum | June 29, 2018
img0 Canada’s Centerra Gold agreed this week to extend the deadline for completion of all conditions included in a deal it signed in September with the Kyrgyz government, ending long-dragged environmental disputes over the firm’s Kumtor gold mine, the country’s largest. While the Toronto-based miner did not provide much detail about the reasons for the deferral, ...

Future of Centerra mine uncertain as Kyrgyz Gov’t revising settlement deal

MINEX Forum | June 13, 2018
img0 Fresh doubt has been cast over a deal reached in December between Centerra Gold and the Kyrgyz Republic ending long-dragged disputes after the country’s Prime Minister said Tuesday the new government was reviewing the agreement. According to radio Azattyk, minister Muhammadkaliy Abylgaziev also said his administration would submit to parliament its own proposals regarding the ...

Chaarat Gold offer to Centerra values Kumtor mine at $800 million

MINEX Forum | May 2, 2018
img0 Chaarat Gold Holdings (LON:CGH) disclosed Tuesday its unsolicited bid for Centerra Gold’s (TSX:CG) Kumtor mine in Kyrgyzstan valued the operation, the Asian country’s largest gold mine, at $800 million (about Cdn $1.025 billion at today’s exchange rate). The miner, which is developing the Chaarat project in Kyrgyzstan, said the proposed acquisition of Kumtor included $400 ...

Centerra rejects unsolicited offer for its Kumtor gold mine in Kyrgyzstan

MINEX Forum | April 26, 2018
img0 Canada’s Centerra Gold (TSX:CG) has rejected an unsolicited bid for its Kumtor gold mine in Kyrgyzstan from Chaarat Gold Holdings (LON:CGH), received last month, but which the London-listed miner made public on Tuesday. Responding to media speculation, Chaarat confirmed its offer to Centerra to buy Kyrgyzstan’s largest gold mine, and though it did not disclosed the ...

Kyrgyzstan: China demands to protect investor after locals burnt gold-processing plant

MINEX Forum | April 14, 2018
img0 BISHKEK (TCA) — The Embassy of China in Kyrgyzstan has asked the Kyrgyz Foreign Affairs and Internal Affairs Ministries to conduct a fair investigation and protect Chinese investors, after hundreds of residents of the country’s Toguz-Torou district set several buildings of the Kyrgyz-Chinese joint venture Makmal GL Developing ablaze on April 11, 24.kg news agency ...

Investment in geological exploration and extension of Kumtor mine life planned

MINEX Forum | April 6, 2018
img0 According to the Public Relations and Media Department of the Government of the Kyrgyz Republic, Prime Minister Sapar Isakov met with the Director of Centerra Gold Inc. Scott Perry. They discussed the prospects of the company’s development and expressed interest in deepening cooperation. The head of government noted that the Kyrgyz Republic and Centerra Gold ...

Chaarat extends private placement closing

MINEX Forum | April 5, 2018
img0 Chaarat Gold has decided to extend the closing of a recent private placement after failing to reach its target of US$20 million. The company said the board had extended the closing due to the imminent publication of the Tulkubash oxide resource project’s feasibility study results later this month, which would give a comprehensive update on ...

Polymetal secures offtake for Kyzyl concentrate

MINEX FORUM | February 21, 2018
img0 LSE-listed Polymetal has secured an offtake agreement with one of its established trading partners for 50% of the forecast high-carbon concentrate production from the Kyzyl project, in north-eastern Kazakhstan, with an option to increase this to 100% of its yearly concentrate output. Polymetal plans to process low-carbon concentrate at the debottlenecked Amursk POX facility, in the far east of Russia, but ...

New exploration licences will be sold at the action in Kyrgyzstan

MINEX Forum | February 19, 2018
img0 In March 2018 the State Committee of Industry, Energy and Subsoil Use of the Kyrgyz Republic will be organising actions and tenders for exploration of Gold, Coal, Iron Ore and Rare earth elements deposits. List of tender objects-2018 List of auction objects-2018 For more detailed information on the terms for participation in auctions and tenders, please ...