By Gaalen Engen
Stockhouse.com
Centerra Gold (TSX:CG, Stock Forum), a Toronto-based gold mining and exploration firm engaged in the exploration, development, mining and processing of precious metals in the Kyrgyz Republic, Mongolia, Turkey, China and the Russian Federation, announced today that the company had been informed that the Kyrgyz parliament passed a law on glaciers prohibiting activities which affect glaciers in the Kyrgyz Republic.
According to the news release, the glacier law must been signed by the republic’s president before it can take effect and since the company has yet to receive an official version of the document, it is unable to clarify several provisions contained therein.
What is clear, is that the legislation contains provisions for the payment for damages to the glaciers at rates determined by the government.