Kyrgyzstan

Court dismisses suit against Leviev on Kyrgyz gold mine

The Tel Aviv District Court today dismissed a NIS 2.5 billion lawsuit filed by Bertie Sinbeti against Lev Leviev and the Leviev Group.

Centerra Gold punished as Kumtor strike enters second week

Centerra Gold announced on Tuesday that employees at its massive Kumtor operation in the Kyrgyzstan remain on strike, sending its shares down as much as 3.5%.

Centerra Gold Kumtor Mine work stoppage

TORONTO, CANADA–(Marketwire – Feb. 6, 2012) – Centerra Gold Inc. (TSX:CG) announced that the unionized employees of its Kumtor operation in the Kyrgyz Republic have begun an illegal strike.

Kyrgyzstan's gilded economy

The state agency of geology and mineral resources of Kyrgyzstan announced this week that in 2011, the output of the gold-mining industry of the ex-Soviet republic increased by 41.7% compared with 2010. The value of gold production dominated by the Kumtor mine owned by Canada's Centerra was $1.9 billion, almost a full 15% of the impoverished country's $13.16 billion (2011 est.) gross domestic product.

Potential PR poison: Centerra's Kyrgyzs mine encroaching on snow leopard park, polluting water supply says govt commission

Eurasianet reports two new studies say the massive Kumtor gold mine, controlled by Canada's Centerra's and the Kyrgyzs government, as a matter of routine ignores environmental legislation endangering species such as the snow leopard and is damaging Central Asia’s water supply.

Centerra Gold Reports 2011 Gold Production of 642,380 Ounces and Provides 2012 Guidance

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.

Stans Energy submits mining licenses for heavy rare earth in Kyrgyzstan

Stans Energy Corp announced the submission of documentation for the licensing requirements to the Kyrgyz Government for the Kutessay II Heavy Rare Earth Deposit and the Kalesay Beryllium deposit, news agencies reported.

Kyrgyz horsemen petrol bomb Gold Fields mine, severely beat manager

International Business Times reports that a mob of horsemen armed with sticks and petrol bombs attacked an exploration camp run by South African miner Gold Fields' joint venture in Kyrgyzstan, the latest in a series of assaults on mining companies in the Central Asian state.

Talas Copper Gold, a joint venture between Gold Fields and Britain's Orsu Metals, said on Monday that its security manager was severely beaten as he fled from a burning building at the exploration camp in Talas province. Kyrgyzstan, a former Soviet republic of 5.5 million people, is preparing to elect its next president to replace Almazbek Atambayev (pictured on left) on Oct. 30, following a year in which its former leader was overthrown and hundreds were killed in mob violence.

Many Kyrgyz fail to find a glittering future in gold

Two decades ago, Kyrgyzstan's president entered a parliament session brandishing what he felt was the key to the future — a bar of gold that had come from one of the country's own mines.

Kyrgyzstan to stop exporting gold ore

The Central Asian republic of Kyrgyzstan announced stopping gold ore exports and also decided to increase export duties for gold flotation and gravity concentrates.

Centerra Gold outshines gold bellwethers as profits double

Investors rewarded Centerra Gold on Friday after the company reported it more than doubled net profits at $71.1 million on revenues of $243.8 million, up over 60% compared to the same quarter last year and announced a special and annual dividend payment of $99.3 million.

Centerra Gold, which owns gold properties in Kyrgyzstan and Mongolia and has earn-in agreements in Nevada and Turkey, added 1% by midday Friday and was one of the few gainers among precious metals miners. Sector heavyweights Goldcorp and Kinross lost over 1.5% while Barrick was also trading weaker despite a rampant gold price.

The miner's drilling plans excite the market, while Bayan makes a back-door ASX listing.

GARIMPEIRO last had a look at Kentor Gold (ASX: KGL) back in July 2009 when it was an $8 million company and had just picked up the Andash gold/copper project in the most alphabetic of the "stans" in Central Asia, …

Centerra Gold projects $5 billion in revenue from Kumtor open pit mine

Using a gold price of $1,000 per ounce, the Kumtor open-pit LOM plan has been used to project the net cash flow for the open pit operations for the period of January 1, 2011 to 2021.

Total gross revenue from the sale of gold and minor silver credits are estimated to be nearly $5.0 billion while direct operating costs are estimated to be $1.9 billion or $385 per recovered ounce of gold produced.