Centerra Gold to keep Kumtor mine open as Kyrgyzstan hands key permits

Centerra Gold (TSX:CG) scored Thursday a significant victory in its long-dragged dispute with the Kyrgyz Republic over Kumtor mine after authorities handed the Canadian firm two key permits to keep it running throughout the second half of 2016.

The maximum allowable emissions permit (MAE), said the company, is valid until Dec 31 this year and it is the first new such licence issued by the State Agency for Environmental Protection and Forestry to Kumtor since 2014.

The move comes barely a week after the Central Asian country’s President, Almazbek Atambayev, ordered state prosecutors to review the legality of agreements signed with the company in 2003-2004 and 2009.

More to come…

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