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BRIEF-Centerra Gold reaches comprehensive settlement with the Government of the Kyrgyz Republic
September 11, 2017 / 11:23 AM / 2 months ago

BRIEF-Centerra Gold reaches comprehensive settlement with the Government of the Kyrgyz Republic

Sept 11 (Reuters) - Centerra Gold Inc

* Centerra Gold reaches comprehensive settlement with the Government of the Kyrgyz Republic

* Centerra - co, its Kyrgyz subsidiaries and Kumtor Operating Company entered into a settlement agreement Government of Kyrgyz Republic​

* KGC has agreed to make a one-time lump sum payment totaling US$57 million

* Amounts are expected to be recorded as an expense and liability in company’s Q3 results

* Centerra - ‍agreement results in full reciprocal releases, resolution of existing arbitral, environmental claims, disputes, proceedings, court orders​

* Centerra Gold - KGC would consider, together with government, other potential investment opportunities in Kyrgyz Republic and at Kumtor Project

* Centerra - ‍agreement results in termination of Kyrgyz Republic court order which restricted KGC’s ability to transfer cash to Centerra​

* Centerra Gold - continuing to work closely with government to expeditiously satisfy strategic agreement, expected to be completed in Q4 of 2017 Source text for Eikon: Further company coverage:

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