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Gold Investing News reports a deal between Centerra Gold, a Canadian company and Kyrgyzstan’s lawmakers. The settlement will raise the state’s share in Canada-based Centerra Gold Inc. (CG.TO), which owns the lucrative Kumtor mine, to 33 per cent from 15.7 per cent previously. In addition to increasing Kyrgyzstan’s role in the Kumtor project, the $100 …
Gold Investing News reports a deal between Centerra Gold, a Canadian company and Kyrgyzstan’s lawmakers.
The settlement will raise the state’s share in Canada-based Centerra Gold Inc. (CG.TO), which owns the lucrative Kumtor mine, to 33 per cent from 15.7 per cent previously.
In addition to increasing Kyrgyzstan’s role in the Kumtor project, the $100 million deal will also see the government take joint ownership of gold deposits in Mongolia and an exploration site in northern Nevada. Kyrgyz authorities have hailed the decision as a victory for the ex-Soviet nation’s efforts to assert its rights over the country’s mineral resources, but government critics say the dispute with Centerra has scared away foreign investors.
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