Centerra to obtain $100 million from Kyrgyzstan for 50% of Kumtor
Edited by Rhod Mackenzie / 2013-09-11 09:17:29
Kyrgyzstan will pay $100 million to the Canadian Centerra Gold to obtain 50% in the new JV for the development of the Kumtor deposit, the company reports.
Kyrgyz government and Centerra signed a memorandum of restructuring the agreement presupposing that the republic holds 32.7% of Canadian company. Kyrgyzstan will obtain 50% in the new JV in exchange. The memorandum will be approved by the Board of Directors of Centerra.
