United States

Centerra Gold in advanced settlement talks with Kyrgyz Government

Wednesday, 6 Sep 2017 11:42am EDT 

Sept 6 (Reuters) - Centerra Gold Inc :Says Centerra Gold provides update on discussions with the Kyrgyz Government.Says confirms that its discussions with Kyrgyz​ Government regarding a settlement have reached an advanced stage.Says Unit to make payment of $57 million to new government administered Nature Development Fund, Cancer Care Support Fund​ per terms of proposed settlement ​.Says aware of reports in Kyrgyz Republic describing statements made by Government to parliamentary committee which included terms of proposed settlement.Says terms of proposed settlement include comprehensive settlement of all outstanding disputes & court & other proceedings affecting Kumtor Project​.Says ‍inability to resolve all matters could lead to suspension of operations of Kumtor Project​.Says ‍inability to resolve matters related Kumtor Project would have material adverse impact on future cash flows, earnings, results of operations.‍Says KGC would consider, together with government, potential investment options in Kyrgyz Republic & at Kumtor Project​ as per terms of proposed settlement. 

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