The company is continuing negotiations with the Kyrgyz government about a possible restructuring to resolve all outstanding concerns relating to the Kumtor mine.
Centerra Gold Mining News
Parties are currently considering a potential restructuring deal to form a joint venture that would own Centerra's flagship Kumtor project.
92 arrested, at least 50 injured and thousands still protesting.
The national grid power supply to its flagship Kumtor mine in Kyrgyzstan has been disrupted by local protesters who have been blocking the road leading to the site.
Opponents action may jeopardize the company’s gold production and financial results.
Kyrgyzstan has given Centerra Gold three months to redraw terms before ripping up an agreement to run its flagship Kumtor mine.
The gold miner logged a net loss of $68 million or $0.29 per share in Q4 2012, compared to net earnings of $79.4 million or $0.34 per common share for the same period in 2011.
The Kyrgyz Republic government is once again trying to force Centerra to renegotiate the terms of its mining license for the Kumtor open pit gold mine, the country’s largest foreign investment.
Local media reported that Kyrgyzstan minister of economy, Temir Sariyev, implied that Centerra would have its permit revoked and a new company would continue to extract gold from Kumtor.
Oksut gold project went through the million-ounce mark in February last year.
Document was submitted a week after Canadian Centerra Gold (TSX:CG) rejected as “exaggerated” and “without foundation” a $152 million environmental damages claim from the Kyrgyzstan government.
Two of its senior executives are retiring in February next year.
London-based explorer Stratex (LON:STI) got an early Christmas present this year, as Canadian Centerra Gold (TSX:CG) paid the junior and partner in the Turkey’s Oksut project a noteworthy $40 million for its 30% stake in the venture.
Centerra Gold (TSX:CG) was trading low on Thursday morning, after the Canadian gold miner reported Wednesday night a $46.8 million quarterly loss due to higher costs and severely lower production at its Kumtor mine in Kyrgyzstan.
Canadian Centerra Gold (TSX:CG) said Tuesday an independent assessment of a Kyrgyz Republic Parliamentary report backs the company’s view that the report’s allegations against its Kumtor gold mine are unfounded.
Demonstrators clashed with police and tried breaking into a building housing the parliament and government offices in Kyrgyzstan's capital Wednesday, as they demanded the nationalization of the Kumtor gold mine, owned by Canadian Centerra Gold (TSX:CG).
Centerra Gold Inc. announced that its Boroo mine, located in Mongolia, has received regulatory approval for its mine plan for the heap leach facility and therefore now has all required permits to resume heap leach operations.
Canadian Centerra Gold said Wednesday that its Boroo open-pit gold mine, located in Mongolia, has received regulatory approval for its heap leach facility, allowing the company to resume operations at the plant.
On Friday Centerra Gold hosted a visit by the Kyrgyz Prime Minister Babanov to the Kumtor mine. The visit came a week after Kyrgyzstan authorities said they wanted to renegotiate a contract with the gold miner.
Shares of Centerra Gold fell 16% by midday after an announcement that one of its directors had quit.
Kyrgyzstan's parliament has approved a review to the operating license for Centerra Gold, which is developing a major gold mine that accounts for 12% of the Central Asian nation's economy, announced the company Wednesday.
Centerra Gold Inc. (CG.TO) shares fell 6% today after the company reported a net loss of US$14 million or six cents per share compared with a profit of US$136 million or 58 cents per share a year ago.
Centerra Gold Inc. (TSX:CG) today issued updated estimates for the Company's reserves and resources based on its successful 2011 exploration program. TORONTO, ONTARIO--(Marketwire - Feb. 9, 2012) -
Centerra Gold Inc. CA:CG -2.62% announced today that its 2011 consolidated gold production totalled 642,380 ounces, which includes 583,156 ounces of gold from the Kumtor mine and 59,224 ounces of gold from the Boroo mine.