Centerra Gold Inc. reports that the Kumtor operation, located in the Kyrgyz Republic, has received the necessary permits from the state authorities to raise the tailings dam to the 3674 metre elevation.
The construction permits enables the mine to commence the 4-year construction program to provide adequate tailings storage capacity for Kumtor’s mill tailings deposition from 2021 through the end of 2024. It is estimated that in 2017 the Company will invest approximately $11 million (no change to 2017 guidance) of the total estimated investment of $32 million.
After the initial raise is completed in 2020, the mine would then submit a design to raise the dam to the final elevation of 3677.5 starting in 2021. The Company expects that it would apply for and receive, in the ordinary course, the necessary approvals and permits for the final tailings dam raise.
Centerra Gold Inc. is a Canadian-based gold mining company focused on operating, developing, exploring and acquiring gold properties in North America, Asia, and other markets worldwide. Centerra is the largest Western-based gold producer in Central Asia. Centerra’s shares trade on the Toronto Stock Exchange (TSX) under the symbol CG. The Company is based in Toronto, Ontario, Canada. Additional information on Centerra is available on the Company’s website at www.centerragold.com and at SEDAR at www.sedar.com.
The full text of the press release can be found at http://www.centerragold.com/investor/news-releases
Additional information on Centerra is available on the Company’s web site at www.centerragold.com and at SEDAR at www.sedar.com.