Kyrgyz woes deepen for Centerra as legal proceedings restrict Kumtor subsidiary, personnel

June 6, 2016

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The tribulations Canadian miner Centerra Gold is dealing with in the Kyrgyz Republic seems to be escalating, as State-sponsored legal challenges and restrictive measures imposed by the country’s courts and State authorities hinder the company’s management of its flagship Kumtor mine, the single largest economic contributor to the country’s gross domestic product (GDP).
Toronto-headquartered Centerra stated Monday that Kyrgyzstan – the second most impoverished country in Central Asia according to the European Union – had through the Bishkek Inter-District Court on Friday issued an interim order against subsidiary Kumtor Gold Company (KGC), to secure a $220-million claim made by the Kyrgyz Republic State Agency for Environmental Protection and Forestry (SAEPF) alleging that Kumtor owed environmental pollution fees.

Category: General