Centerra Gold Inc. officials have announced that, absent a 2014 mine plan and permits pending since June 13 from the Kyrgyz Republic government, a shutdown of their Kumtor project is pending. Company representatives had sought the approvals via local subsidiary Kumtor Gold Co. since Q4 2013.
Kumtor “has consistently operated the project to high environmental, safety and technical standards we have engaged constructively and in good faith to obtain approval of plans and designs,” the company said in a statement.
Citing the 2009 restated investment agreement between the companies and Kyrgyz Republic authorities, said Toronto-based Centerra officials, mandate government agencies “be reasonable” in reviewing mining plans with “certain assurances” regarding the issuance of permits.
The shutdown plan, said officials, requires onsite staff to provide environmental and safety monitoring, security, and maintenance of the mill and mine equipment. The project’s suspension, meanwhile, could leave it subject to geotechnical and other challenges, added company representatives, including in-flow of water, ice movement from the Davydov glacier toward the open pit and pit-wall instability.
