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Centerra Gold officially announces that it no longer owns Kumtor mine

The head of the Cabinet of Ministers of Kyrgyzstan Akylbek Japarov made a statement on the Kumtor mine developments. Press service of the Cabinet reported.

A few hours ago, late in the evening on November 19, after the completion of exchange trading, Centerra Gold Inc. acknowledged that they no longer own the Kumtor mine. It wrote off $ 926 million from its book value and reflected the loss of control over the Kumtor mine.

The decision was made by Centerra Gold Inc. at the request of the Ontario Securities Commission (Canada).

«From the very first day, the Kyrgyz government called on the management of Centerra Gold Inc. to recognize the infliction of enormous damage to the nature and economy of our country. We believe that the international community will soon be convinced that it is not about infringing on the interests of investors. The Cabinet of Ministers will continue to actively defend the rule of law and the national interests of the people of the Kyrgyz Republic,» Akylbek Japarov said.