Issyk-Kul Region

Centerra Gold Brings Additional Claims in Arbitration Against the Kyrgyz Republic and Names Kyrgyzaltyn JSC as a Co-Respondent over Seizure of the Kumtor Mine

Retrieved on: 
Wednesday, July 7, 2021
Countries, Issyk-Kul Region, Kumtor Gold Mine, Mining, Continents, Permanent Court of Arbitration, Arbitration, Kyrgyzstan, Kyrgyz people, Centerra Gold

The amended notice adds claims against Kyrgyzaltyn JSC, the gold refining monopoly in the Kyrgyz Republic and Centerras largest shareholder.

Key Points: 
  • The amended notice adds claims against Kyrgyzaltyn JSC, the gold refining monopoly in the Kyrgyz Republic and Centerras largest shareholder.
  • Centerra has requested that the Permanent Court of Arbitration in the Hague designate an appointing authority to select an arbitrator promptly.
  • Centerra owns three mines, the Kumtor Mine in the Kyrgyz Republic, the Mount Milligan Mine in British Columbia, Canada and the kst Mine in Turkey.
  • The words believe, expect, anticipate, contemplate, plan, intends, continue, budget, estimate, may, will, schedule, understand and similar expressions identify forward-looking information.

Centerra Gold Announces Additional Pre-Emptive Actions in Response to the Seizure of the Kumtor Mine by the Kyrgyz Republic

Retrieved on: 
Tuesday, June 1, 2021
Issyk-Kul Region, Kumtor Gold Mine, Countries, Mining, Centerra Gold

Centerra hopes that this internationally recognized, orderly restructuring process will facilitate potential negotiations with the Kyrgyz Government.

Key Points: 
  • Centerra hopes that this internationally recognized, orderly restructuring process will facilitate potential negotiations with the Kyrgyz Government.
  • In particular, we will continue to pursue arbitration proceedings to enforce the longstanding agreements with the Kyrgyz Republic that give Centerra, KGC and KOC the right to own and operate the Kumtor Mine.
  • Centerra believes that the Kumtor Mine remains a valuable asset notwithstanding the Kyrgyz Republics recent actions.
  • Centerra owns three mines, the Kumtor Mine in the Kyrgyz Republic, the Mount Milligan Mine in British Columbia, Canada and the kst Mine in Turkey.

Centerra Gold Announces Proceedings Against Former Board Director Tengiz Bolturuk

Retrieved on: 
Thursday, May 20, 2021
Countries, Weapons, Naval warfare, Economy of Kyrgyzstan, Geography of Kyrgyzstan, Issyk-Kul Region, Kumtor Gold Mine, Centerra Gold, Kyrgyzstan, Naval mine

Mr. Bolturuk, a dual Canadian and Kyrgyz citizen, joined the Centerra Board in December 2020 and resigned on May 17, 2021.

Key Points: 
  • Mr. Bolturuk, a dual Canadian and Kyrgyz citizen, joined the Centerra Board in December 2020 and resigned on May 17, 2021.
  • Shortly before the Kyrgyz Government took control of the mine, all key safety, monitoring and operational systems were functioning properly.
  • Centerra did not disable any such systems, and the mine was operating without incident.\nMr.
  • Centerra owns three mines, the Kumtor Mine in the Kyrgyz Republic, the Mount Milligan Mine in British Columbia, Canada and the \xc3\x96ks\xc3\xbct Mine in Turkey.

Centerra Gold Announces Restrictions on Shares Held by Kyrgyzaltyn JSC

Retrieved on: 
Tuesday, May 18, 2021
Mining, Economy of Kyrgyzstan, Geography of Kyrgyzstan, Issyk-Kul Region, Kumtor Gold Mine, Centerra Gold

Kyrgyzaltyn JSC and its affiliates are also not entitled to any dissent rights in respect of their Centerra shares should such rights arise.\nThese prohibitions and restrictions are provided for under the 2009 Shareholders Agreement between Centerra and Kyrgyzaltyn JSC, the state-owned entity through which the Kyrgyz Republic owns approximately 26% of the Centerra shares, and their duration cannot currently be determined.

Key Points: 
  • Kyrgyzaltyn JSC and its affiliates are also not entitled to any dissent rights in respect of their Centerra shares should such rights arise.\nThese prohibitions and restrictions are provided for under the 2009 Shareholders Agreement between Centerra and Kyrgyzaltyn JSC, the state-owned entity through which the Kyrgyz Republic owns approximately 26% of the Centerra shares, and their duration cannot currently be determined.
  • Mr. Bolturuk joined the Centerra Board of Directors in December 2020 as a nominee of Kyrgyzaltyn JSC.
  • Centerra operates three mines, the Kumtor Mine in the Kyrgyz Republic, the Mount Milligan Mine in British Columbia, Canada and the \xc3\x96ks\xc3\xbct Mine in Turkey.
  • Centerra's shares trade on the Toronto Stock Exchange (TSX) under the symbol CG and on the New York Stock Exchange (NYSE) under the symbol CGAU.

Centerra Gold Responds to Latest Developments in the Kyrgyz Republic

Retrieved on: 
Monday, May 17, 2021
Countries, Weapons, Naval warfare, Economy of Kyrgyzstan, Geography of Kyrgyzstan, Issyk-Kul Region, Kumtor Gold Mine, Kyrgyzstan, Naval mine, Centerra Gold

Consequently, Centerra is no longer in control of the Kumtor Mine and can no longer ensure the safety of the mine\xe2\x80\x99s employees or operations.

Key Points: 
  • Consequently, Centerra is no longer in control of the Kumtor Mine and can no longer ensure the safety of the mine\xe2\x80\x99s employees or operations.
  • Centerra did not disable any such systems, and the mine was operating without incident.
  • Due to the Government\xe2\x80\x99s unprecedented actions, Centerra has suspended access of all local KGC employees in the Kyrgyz Republic to Centerra\xe2\x80\x99s global IT systems to prevent any unauthorized intrusions into those systems.
  • Centerra operates three mines, the Kumtor Mine in the Kyrgyz Republic, the Mount Milligan Mine in British Columbia, Canada and the \xc3\x96ks\xc3\xbct Mine in Turkey.

Centerra Gold Comments on Kyrgyz Republic Developments

Retrieved on: 
Friday, May 7, 2021
Countries, Asia, Mining, Economy of Kyrgyzstan, Geography of Kyrgyzstan, Issyk-Kul Region, Kumtor Gold Mine, Centerra Gold, Kyrgyzstan, Kyrgyz people

b"TORONTO, May 07, 2021 (GLOBE NEWSWIRE) -- Centerra Gold Inc. (\xe2\x80\x9cCenterra\xe2\x80\x9d) (TSX: CG) (NYSE: CGAU) announced today that it has become aware of a number of legal and political developments in the Kyrgyz Republic which may affect Centerra\xe2\x80\x99s ownership of the Kumtor Mine and its rights under the 2009 restated project agreements which govern the Kumtor Mine.\nFirst, the Company understands that a law has been passed by the Kyrgyz Republic Parliament which would enable the Kyrgyz Republic Government to impose \xe2\x80\x9cexternal management\xe2\x80\x9d on companies in the Kyrgyz Republic operating under concession agreements.

Key Points: 
  • b"TORONTO, May 07, 2021 (GLOBE NEWSWIRE) -- Centerra Gold Inc. (\xe2\x80\x9cCenterra\xe2\x80\x9d) (TSX: CG) (NYSE: CGAU) announced today that it has become aware of a number of legal and political developments in the Kyrgyz Republic which may affect Centerra\xe2\x80\x99s ownership of the Kumtor Mine and its rights under the 2009 restated project agreements which govern the Kumtor Mine.\nFirst, the Company understands that a law has been passed by the Kyrgyz Republic Parliament which would enable the Kyrgyz Republic Government to impose \xe2\x80\x9cexternal management\xe2\x80\x9d on companies in the Kyrgyz Republic operating under concession agreements.
  • The law was proposed, passed three readings and was adopted by Parliament in a single day and will now be referred to the President of the Kyrgyz Republic for signature.
  • The Company therefore believes strongly that the claims advanced by the State Tax Service and such individual Kyrgyz Republic claimants are entirely meritless and the new and draft Kyrgyz Republic laws noted above, if implemented, would clearly violate the 2009 restated project agreements and the 2009 Kyrgyz Republic laws which confirmed such agreements.
  • Centerra operates three mines, the Kumtor Mine in the Kyrgyz Republic, the Mount Milligan Mine in British Columbia, Canada and the \xc3\x96ks\xc3\xbct Mine in Turkey.

Centerra Gold Comments on Tax Claims Received from Kyrgyz Authorities

Retrieved on: 
Thursday, March 18, 2021
Countries, Mining, Economy of Kyrgyzstan, Geography of Kyrgyzstan, Issyk-Kul Region, Kumtor Gold Mine, Asia, Centerra Gold, Kyrgyzstan, Tax

TORONTO, March 18, 2021 (GLOBE NEWSWIRE) -- Centerra Gold Inc. (Centerra) (TSX: CG) comments today on tax claims received by its Kyrgyz Republic subsidiary, Kumtor Gold Company CJSC (KGC), from the Kyrgyz Republic State Tax Service.

Key Points: 
  • TORONTO, March 18, 2021 (GLOBE NEWSWIRE) -- Centerra Gold Inc. (Centerra) (TSX: CG) comments today on tax claims received by its Kyrgyz Republic subsidiary, Kumtor Gold Company CJSC (KGC), from the Kyrgyz Republic State Tax Service.
  • Each of these claims was initially raised by the State Tax Service in 2018 but subsequently withdrawn or terminated pursuant to decisions of the State Tax Service in March 2018.
  • The State Tax Service has now annulled its previous decision in order to revive such claims.
  • KGC has also received requests from the State Tax Service to re-audit KGCs financial accounts for 2014 through 2019.

Centerra Gold Exceeds 2019 Gold Production Guidance Producing 783,308 Ounces and Announces 2020 Outlook including Öksüt Mine Production

Retrieved on: 
Tuesday, February 11, 2020
Mining, Economic geology, Mineral economics, Economy of Kyrgyzstan, Geography of Kyrgyzstan, Issyk-Kul Region, Kumtor Gold Mine, National Instrument 43-101, Mineralization, Ore

Other material assumptions used in forecasting production and costs for 2020 can be found under the heading Caution Regarding Forward-Looking Information in this document.

Key Points: 
  • Other material assumptions used in forecasting production and costs for 2020 can be found under the heading Caution Regarding Forward-Looking Information in this document.
  • Gordon Reid, Professional Engineer, consultant and former Chief Operating Officer, is the qualified person for the purpose of NI 43-101.
  • The technical report describes the exploration history, geology and style of gold mineralization at the Kumtor deposit.
  • The technical report describes the exploration history, geology and style of gold mineralization at the kst deposit.

Centerra Gold Receives Open Pit Mining Permits for Kumtor Mine

Retrieved on: 
Wednesday, January 22, 2020
Economy of Kyrgyzstan, Geography of Kyrgyzstan, Issyk-Kul Region, Kumtor Gold Mine, Mines, Centerra Gold, Mining, Gold mining

TORONTO, Jan. 22, 2020 (GLOBE NEWSWIRE) -- Centerra Gold Inc. (Centerra) (TSX: CG) announces that the Kumtor Mine, located in the Kyrgyz Republic, has received all the necessary approvals and permits to re-commence open pit mining operations and to continue milling activity for the remainder of 2020.

Key Points: 
  • TORONTO, Jan. 22, 2020 (GLOBE NEWSWIRE) -- Centerra Gold Inc. (Centerra) (TSX: CG) announces that the Kumtor Mine, located in the Kyrgyz Republic, has received all the necessary approvals and permits to re-commence open pit mining operations and to continue milling activity for the remainder of 2020.
  • Open pit mining operations are currently ramping up and are expected to be in full mining production early next week, while the mill continues to process stockpiled ore as planned for 2020.
  • In addition, Kumtor is continuing its own internal review and cooperating with Kyrgyz authorities inquiries in relation to the Lysii Waste Rock Dump.
  • Centerra Gold Inc. is a Canadian-based gold mining company focused on operating, developing, exploring and acquiring gold properties in North America, Asia and other markets worldwide and is the largest Western-based gold producer in Central Asia.

Centerra Gold Provides Update on Waste Rock Dump Movement at Kumtor; Management Conference Call at 4:30 PM (Eastern) December 2, 2019

Retrieved on: 
Monday, December 2, 2019
Occupational safety and health, Waste management, Articles, Economy of Kyrgyzstan, Geography of Kyrgyzstan, Issyk-Kul Region, Kumtor Gold Mine, Landfill, Electronic waste, Mining, Contents, Dump

The Lysii Waste Rock Dump has now stabilized sufficiently that light equipment is being employed in the search effort.

Key Points: 
  • The Lysii Waste Rock Dump has now stabilized sufficiently that light equipment is being employed in the search effort.
  • Kumtors mining areas, including the Central Pit, have not been impacted by the Lysii Waste Rock Dump movement since the Lysii valley is an isolated valley over a ridge to the north of the open pit.
  • The Company is assessing alternative waste rock dumping plans which could include utilizing the existing capacity in the Central Valley Waste Dump, the Sarytor Waste Dump and/or in-pit dumping.
  • Kumtor mill infrastructure has also not been impacted from the Lysii Waste Rock Dump movement, since the Lysii Valley is isolated over a ridge to the north and at a lower elevation than the mill.