Centerra Agrees to Discuss Kumtor Stake Swap With Kyrgyzstan
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Centerra Gold Inc., the Canadian operator of the Kumtor pit in Kyrgyzstan, agreed to discuss a proposal that would give the country a 50 percent stake in the mine, the company’s largest operation.
The parties made a non-binding agreement that would involve state-controlled Kyrgyzaltyn JSC exchanging its 33 percent stake in the company for the mine stake, Toronto-based Centerra said yesterday in a statement. Centerra would remain the operator and manager of the mine, it said.