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Kyrgyz court rules against Centerra in first of govt lawsuits

Published 2016-05-23, 10:21 a/m
© Reuters. Kyrgyz court rules against Centerra in first of govt lawsuits
CG
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BISHKEK, May 23 (Reuters) - A court in Kyrgyzstan fined the
country's biggest gold miner Kumtor, a unit of Canada's Centerra
Gold CG.TO , about $10,000 for environmental damage on Monday
in a move following renewed tensions between the government and
the firm.
The Central Asian republic and Centerra have been locked in
a bitter dispute over profit sharing and Bishkek said last year
it was withdrawing from the negotiations.
Kyrgyzstan's environmental and technical safety authority
has filed several lawsuits against Kumtor for a total of about
$103 million and Monday's ruling concerned the first of those.
Kumtor's lawyers told reporters at the hearing that they
would appeal the ruling.
Kyrgyz prosecutors raided the company offices last month to
collect documents related to a separate criminal case alleging
financial violations by the firm.

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