Centerra Gold Inc. does not own any Mongolian operations or properties and has not conducted any business in Mongolia since October 2018, Kumtor Gold Company reports.
Recently media have announced that Mongolian Court of Appeal has revoked four Centerra Gold licenses in favor of an NGO.
In this regard, Kumtor Gold Company would like to clarify media misinformation and states that Centerra Gold Inc. does not own any Mongolian operations or properties and has not conducted any business in Mongolia since October 2018.
Centerra Gold Inc. is a Canadian company publicly listed on the Toronto Stock Exchange and is the owner of the Kumtor, Mount Milligan and Öksüt mines and many other properties worldwide.
“Prior to October 2018, Centerra Gold Inc. previously owned a Mongolian business unit, which it held through two Mongolian subsidiary companies. Those Mongolian companies were named “Centerra Gold Mongolia LLC” and “Boroo Gold LLC”. In October 2018 Centerra Gold Inc. sold its entire Mongolian business to OZD Group PTE Ltd., a private Singapore-based company. The transaction was completed by selling both Centerra Gold Mongolia LLC and Boroo Gold LLC (in their entirety) to OZD Group PTE Ltd,” the company stressed. (24.kg/Ukrainian metal)