Centerra rejects unsolicited offer for its Kumtor gold mine in Kyrgyzstan

Canada's Centerra Gold (TSX:CG) has rejected an unsolicited bid for its Kumtor gold mine in Kyrgyzstan from Chaarat Gold Holdings (LON:CGH), received last month, but which the London-listed miner made public on Tuesday.

Responding to media speculation, Chaarat confirmed its offer to Centerra to buy Kyrgyzstan's largest gold mine, and though it did not disclosed the sum, said the deal would also involve Kyrgyz state firm Kyrgyzaltyn.

Centerra, which has been involved in a long-dragged dispute with the Central Asian country’s government and state-owned miner Kyrgyzaltyn over sharing profits from Kumtor, said senior Kyrgyz officials have confirmed they are not interested in pursuing the transaction proposed by Chaarat.

More to come…

 

 

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