{"id":1131306,"date":"2019-08-07T11:15:03","date_gmt":"2019-08-07T16:15:03","guid":{"rendered":"https:\/\/www.mining.com\/?p=998667"},"modified":"2019-08-07T11:15:03","modified_gmt":"2019-08-07T16:15:03","slug":"centerra-gold-kyrgyz-republic-closer-than-ever-to-leaving-differences-behind","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1131306","title":{"rendered":"Centerra Gold, Kyrgyz Republic closer than ever to leaving differences behind"},"content":{"rendered":"<p>Canada\u2019s Centerra Gold (TSX:CG) and the Kyrgyz&nbsp;Republic have finally completed all conditions included in <a href=\"http:\/\/www.mining.com\/centerra-shares-soar-kyrgyzstan-deal\/\"  rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">a deal signed in Sept. 2017<\/a> ending long-dragged environmental and economic disputes over the company\u2019s Kumtor gold mine, the country\u2019s largest.<\/p>\n<div class='d-flex justify-content-center'>\n<div id='div-gpt-ad-1561499308230-0'><script>googletag.cmd.push(function() {googletag.display('div-gpt-ad-1561499308230-0');});<\/script><\/div>\n<\/div>\n<p>The agreement, first <a rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\" href=\"https:\/\/www.mining.com\/centerra-kyrgyz-govt-delay-completion-of-deal-over-kumtor-mine\/\" >expected to close in May 2018<\/a>, but delayed multiple times, also cancels mutual lawsuits, including the government\u2019s <a rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\" href=\"https:\/\/www.mining.com\/centerra-gold-charged-98m-fine-for-environmental-damage-in-kyrgyzstan\/\" >environmental claims<\/a> against Centerra and its subsidiary. <\/p>\n<p>In return, the company has allocated more than $10 million in additional contributions above those required in the strategic settlement to &#8220;strengthen its social license to operate&#8221;.<\/p>\n<p>The Toronto-based miner has also promised at least $16<br \/>\nmillion in exploration expenditures at the Kumtor project over a two-year<br \/>\nperiod.<\/p>\n<p>Centerra said it\u2019s now working on cancelling remaining legal proceedings affecting the project, including <a href=\"https:\/\/www.mining.com\/centerra-gold-seeks-international-arbitration-for-dispute-with-kyrgyzstan\/\"  rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">international proceedings<\/a> at the Permanent Court of Arbitration as well as certain civil proceedings.<\/p>\n<p>A second completion date, when arbitration and civil proceedings are terminated, is expected to occur in the third quarter of this year. By then, Centerra\u2019s Kyrgyz subsidiary, Kumtor Gold Company, would make payments required under the strategic agreement, including to the Kyrgyz Republic Nature Development Fund and Cancer Care Support Fund.<\/p>\n<p>Kumtor, which lies near the Chinese border at an altitude of<br \/>\n4,000 metres, has produced around 11 million ounces of gold since inception and<br \/>\nremaining reserves are pegged at 5.6m ounces.<\/p>\n<p>The Kyrgyz government&nbsp;owns just under a third of Kumtor<br \/>\nand the mine contributes nearly 10% of the country\u2019s GDP.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The parties have completed all conditions included in a deal signed in Sept. 2017 ending long-dragged environmental and economic disputes over the company&rsquo;s Kumtor gold mine.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[369,4],"tags":[],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1131306"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1131306"}],"version-history":[{"count":3,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1131306\/revisions"}],"predecessor-version":[{"id":1131339,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1131306\/revisions\/1131339"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1131306"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1131306"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1131306"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}