Kumtor Gold Mine

Centerra Gold Announces Agreement With Kyrgyzaltyn and the Government of the Kyrgyz Republic

Retrieved on: 
Monday, April 4, 2022
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TORONTO, April 04, 2022 (GLOBE NEWSWIRE) -- Centerra Gold Inc. (“Centerra” or the “Company”) (TSX: CG) (NYSE: CGAU) announced today that it has entered into a global arrangement agreement (the “Agreement”) with Kyrgyzaltyn JSC (“Kyrgyzaltyn”) and the Government of the Kyrgyz Republic (the “Government”) to effect a clean separation of the parties, including through the disposition of Centerra’s ownership of the Kumtor Mine and investment in the Kyrgyz Republic, the elimination of Kyrgyzaltyn’s involvement and interest in the Company, and the resolution of their disputes. Centerra understands that the Agreement has been approved by the Government of the Kyrgyz Republic, including both the Kyrgyz Parliament and the Cabinet of Ministers.

Key Points: 
  • Centerra understands that the Agreement has been approved by the Government of the Kyrgyz Republic, including both the Kyrgyz Parliament and the Cabinet of Ministers.
  • The Kyrgyz Republic and Kyrgyzaltyn assuming all responsibility for the Kumtor Mine, including all reclamation obligations.
  • The resignation from Centerras Board of Directors of Kyrgyzaltyns two nominees and the termination of the shareholders agreement between, among others, Centerra and Kyrgyzaltyn.
  • While the Company still owns the Kumtor Mine in the Kyrgyz Republic, it is currently no longer under the Companys control.

Centerra Gold Provides Update on Negotiations with the Kyrgyz Government

Retrieved on: 
Monday, March 28, 2022
Company, Gold, Toronto Stock Exchange, KGC, Risk, NYSE, Kyrgyzstan, SEDAR, Kyrgyz, 2021 Kyrgyz government system referendum, Environment, Cabinet, Health, Cabinet of Ministers of the Kyrgyz Republic, Private Securities Litigation Reform Act, TSX, Minister, Economy of Kyrgyzstan, GLOBE, New, CG, EDGAR, Kumtor Gold Mine, Mining, Centerra Gold

TORONTO, March 28, 2022 (GLOBE NEWSWIRE) -- Centerra Gold Inc. (Centerra or the Company) (TSX: CG) (NYSE: CGAU) issued the following statement today:

Key Points: 
  • TORONTO, March 28, 2022 (GLOBE NEWSWIRE) -- Centerra Gold Inc. (Centerra or the Company) (TSX: CG) (NYSE: CGAU) issued the following statement today:
    Centerra Gold Inc. notes that the Cabinet of Ministers of the Kyrgyz Republic has approved a decision by the Kyrgyz Government to conclude an agreement with Centerra related to Centerras Kumtor Mine, as reported by Kyrgyz news media.
  • Negotiations with representatives of the Kyrgyz Government and Kyrgyzaltyn JSC continue with a view to finalizing a transaction that Centerra expects will include the principal terms outlined in the Companys press release dated January 3, 2022.
  • These forward-looking statements relate to, among other things: any negotiations or transaction between Centerra, Kyrgyzaltyn JSC and the Kyrgyz Republic, authorizations of the Kyrgyz Republic related to any such transaction, and the potential terms and conditions of any such transaction.
  • Centerra Gold Inc. is a Canadian-based gold mining company focused on operating, developing, exploring and acquiring gold and copper properties in North America, Turkey, and other markets worldwide.

Centerra Gold Confirms Negotiations with the Kyrgyz Government

Retrieved on: 
Monday, January 3, 2022
Seizure, Private Securities Litigation Reform Act, 2021 Kyrgyz government system referendum, Compliance, New, Gold, SEDAR, EDGAR, Toronto Stock Exchange, Health, GLOBE, Company, Risk, NYSE, CG, KGC, Government, Kumtor Gold Mine, Environment, TSX, Risk management, Security (finance), Economy of Kyrgyzstan, Centerra Gold, Kyrgyz

TORONTO, Jan. 03, 2022 (GLOBE NEWSWIRE) -- Centerra Gold Inc. (Centerra or the Company) (TSX: CG) (NYSE: CGAU) today confirmed that it is engaged in negotiations with representatives of the Kyrgyz Republic to resolve their disputes related to Centerras Kumtor Mine and the seizure of control of the mine by the Kyrgyz government in May 2021.

Key Points: 
  • TORONTO, Jan. 03, 2022 (GLOBE NEWSWIRE) -- Centerra Gold Inc. (Centerra or the Company) (TSX: CG) (NYSE: CGAU) today confirmed that it is engaged in negotiations with representatives of the Kyrgyz Republic to resolve their disputes related to Centerras Kumtor Mine and the seizure of control of the mine by the Kyrgyz government in May 2021.
  • Further to statements in the Kyrgyz media regarding the potential negotiated transfer of the Kumtor Mine to the Kyrgyz Republic, Centerra expects that the framework for any resolution would involve the following principal terms:
    Centerra receiving the approximately 26.1% in Centerra common shares held by Kyrgyzaltyn JSC (an instrumentality of the Kyrgyz Republic).
  • The Kyrgyz Republic receiving, and assuming all responsibility for, the Companys two Kyrgyz subsidiaries and the Kumtor Mine.
  • Centerra Gold Inc. is a Canadian-based gold mining company focused on operating, developing, exploring and acquiring gold properties in North America, Turkey and other markets worldwide.

Centerra Gold Announces Filing of a Material Change Report

Retrieved on: 
Saturday, November 20, 2021
Ontario Securities Commission, SEDAR, OSC, Company, Toronto Stock Exchange, NYSE, New, Gold, CG, Kumtor Gold Mine, TSX, GLOBE, Seizure, Kyrgyzstan

Full details regarding these matters are contained in the Companys August 9, 2021 second quarter earnings press release.

Key Points: 
  • Full details regarding these matters are contained in the Companys August 9, 2021 second quarter earnings press release.
  • This material change report has been filed at the request of the Ontario Securities Commission (the OSC) in connection with the OSCs issue-oriented review of Centerras continuous disclosure record related to the developments with respect to the Kumtor Mine.
  • As a result of the filing of this material change report, Staff of the OSC have advised the Company that it will be placed on the public list of Refiling and Errors in accordance with OSC Staff Notice 51-711 (Revised) Refilings and Corrections of Errors.
  • 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.

Centerra Gold Seeks Urgent Relief in International Arbitration to Prevent the Kyrgyz Republic from Destroying the Integrity, Value and Long-Term Viability of the Kumtor Mine

Retrieved on: 
Monday, September 27, 2021
Toronto Stock Exchange, Permanent Court of Arbitration, New, Risk, Gold, TSX, KGC, Health, CG, Water, Economy of Kyrgyzstan, Kumtor Gold Mine, Environment, United Nations Commission on International Trade Law, Private Securities Litigation Reform Act, Company, Mining, SEDAR, EDGAR, 2021 Kyrgyz government system referendum, Safety, NYSE, Government, US, International trade law, GLOBE, Property management, Risk management, Practice of law

Through this application, Centerra seeks to prevent the Kyrgyz Republic and Kyrgyzaltyn JSC from causing irreparable damage to the mine, destroying its integrity, value and long-term viability.

Key Points: 
  • Through this application, Centerra seeks to prevent the Kyrgyz Republic and Kyrgyzaltyn JSC from causing irreparable damage to the mine, destroying its integrity, value and long-term viability.
  • The Kyrgyz government-appointed external management has publicly stated that it plans to reconfigure the Kumtor Mine from an open pit to an underground mine.
  • 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.
  • The Company owns the Kumtor Mine in the Kyrgyz Republic, which is currently not under the Companys control.

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 Conference Call on Kyrgyz Republic Developments

Retrieved on: 
Tuesday, May 18, 2021
Mining, Centerra Gold, Kumtor Gold Mine, Gold mining

The recording can be accessed by calling (416) 626-4100 or (800) 558-5253 and using the passcode 21994392.

Key Points: 
  • The recording can be accessed by calling (416) 626-4100 or (800) 558-5253 and using the passcode 21994392.
  • In addition, the webcast will be archived on Centerra Gold\xe2\x80\x99s website www.centerragold.com .\nCenterra 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 one of the largest Western-based gold producers in Central Asia.
  • 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 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.