Centerra Gold Announces Proceedings Against Former Board Director Tengiz Bolturuk benzinga.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from benzinga.com Daily Mail and Mail on Sunday newspapers.
This financing is in line with the “Restore” initiative of IsDB Group’s “3R” strategy aimed at supporting member countries in their recovery from the adverse socio-economic impact of the Covid-19 pandemic.
Press Release - MINING.COM mining.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mining.com Daily Mail and Mail on Sunday newspapers.
Categories
Kyrgyzstan|business|May 9, 2021 / 08:55 AM
Centerra Gold comments on court ruling on 261.7 billion som fine and passing of law on external management by parliament
AKIPRESS.COM - Centerra Gold Inc. said it has become aware of a number of legal and political developments in the Kyrgyz Republic which may affect Centerra’s ownership of the Kumtor Mine and its rights under the 2009 restated project agreements which govern the Kumtor Mine.
First, the Company understands that a law has been passed by the Kyrgyz Republic Parliament which would enable the Kyrgyz Republic Government to impose “external management” on companies in the Kyrgyz Republic operating under concession agreements.
Article content
TORONTO, May 07, 2021 (GLOBE NEWSWIRE) Centerra Gold Inc. (“Centerra”) (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’s ownership of the Kumtor Mine and its rights under the 2009 restated project agreements which govern the Kumtor Mine.
First, the Company understands that a law has been passed by the Kyrgyz Republic Parliament which would enable the Kyrgyz Republic Government to impose “external management” 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 sponsor of the law, Mr. Akylbek Japarov, notes that the only project operating under a concession agreement in the Kyrgyz Republic is the Kumtor Mine.