Centerra's Kumtor says permit delay may disrupt operations

Published 2016-05-27, 12:14 p/m
© Reuters.  Centerra's Kumtor says permit delay may disrupt operations
CG
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BISHKEK, May 27 (Reuters) - Kumtor Operating Company, part
of Canada's Centerra Gold CG.TO , will be forced to halt
operations at the Kumtor gold mine unless it receives
environmental permits to continue beyond June, it said on
Friday.
"Centerra and Kumtor are very, very committed to working
with the government and state agencies to solve all of the
relevant issues that we have in front of us," Kumtor Chief
Executive Daniel Desjardins told reporters.
"But clearly, if we do not have the permits, we will have to
stop operations at the mine," he said.
A court in Kyrgyzstan fined Kumtor Operating Company 6.7
billion soms ($98 million) this week for environmental damage
and hearings in another environment-related lawsuit for about
$230 million will take place on May 30.
The Central Asian republic and Centerra have been locked in
a bitter dispute over profit sharing and the authorities said
last year they were withdrawing from the negotiations.
Kyrgyz prosecutors raided the company's offices last month
to collect documents related to a separate criminal case
alleging financial violations by the firm.

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