Kyrgz MPs give govt up to 4 mths for Kumtor mine deal with Centerra

Thu, 06 Feb - 10:50pm

BISHKEK, Feb 6 (Reuters) - Kyrgyzstan's parliament on Thursday gave up to four months for the government to finalise a draft deal with Canada's Centerra Gold on forming a 50-50 joint venture to run the country's Kumtor Gold mine.

"The parliament gave the government a short period of time - three to four months - for restructuring the project," Kyrgyz Deputy Prime Minister Zhoomart Otorbayev told Reuters after the vote in the parliament.

The draft project, agreed with the Canadian investor, proposes to swap Kyrgyzstan's 32.7 percent stake in Centerra Gold for half of the Kumtor gold mine, the Toronto-listed miner's core asset.

(Reporting by Olga Dzyubenko; Writing by Dmitry Solovyov, editing by David Evans)

((dmitry.solovyov@thomsonreuters.com)(+7 727 3300 787 x 705)(Reuters Messaging: dmitry.solovyov.thomsonreuters.com@reuters.net))

URN: 
urn:newsml:reuters.com:20140206:nL5N0LA0GU:4
Topics: 
LAW PIA EEU CMPNY CLJ CA PREC MINE METL RTRS MIN GDM BMAT GOL KG EUROPE STEE CISC EUROP COM ASIA EMRG POL LEN PREMTL GEN STL MTAL AMERS

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