{"id":6957,"date":"2018-04-24T10:02:20","date_gmt":"2018-04-24T14:02:20","guid":{"rendered":"http:\/\/lifeinsurance-orleans.ca\/Life-Insurance-Blog\/?guid=69ccffe74ba9904e49b9326df3938dec"},"modified":"2018-04-24T10:02:20","modified_gmt":"2018-04-24T14:02:20","slug":"chaarat-gold-offers-to-buy-centerras-kumtor-mine-in-kyrgyzstan","status":"publish","type":"post","link":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/2018\/04\/24\/chaarat-gold-offers-to-buy-centerras-kumtor-mine-in-kyrgyzstan\/","title":{"rendered":"Chaarat Gold offers to buy Centerra\u2019s Kumtor mine in Kyrgyzstan"},"content":{"rendered":"<p>ALMATY &#8212; London-listed Chaarat Gold Holdings (CGH) offered on Tuesday to buy Kyrgyzstan&#8217;s largest gold mine, Kumtor, from Canada&#8217;s Centerra Gold for an undisclosed cash sum, in a deal that would also involve Kyrgyz state firm Kyrgyzaltyn.<\/p>\n<p>Centerra and Kyrgyzstan have had a series of disputes over sharing profits from Kumtor, and Chaarat said it was offering the Central Asian nation to increase its stake in the project&#8217;s cash flow in the three-way deal.<\/p>\n<p>Under the proposal, Chaarat and Kyrgyzaltyn would acquire Kumtor from Centerra. Chaarat would then operate the mine, while Kyrgyzaltyn would own Kumtor&#8217;s preferred equity and be entitled to &#8220;50 per cent of the economic benefits&#8221; of Kumtor.<\/p>\n<ul class=\"related_links\">\n<li><a href=\"http:\/\/business.financialpost.com\/commodities\/mining\/centerra-gold-stock-inc-tumbles-after-miner-suspends-dividend-over-kyrgyzstan-dispute\">Centerra Gold Inc stock tumbles after miner suspends dividend over Kyrgyzstan dispute<\/a><\/li>\n<li><a href=\"http:\/\/business.financialpost.com\/news\/fp-street\/dividend-deferral-prospect-of-equity-raise-a-double-whammy-for-centerra-gold\">Dividend deferral, prospect of equity raise a double whammy for Centerra Gold<\/a><\/li>\n<\/ul>\n<p>Chaarat said it would fund its portion of the consideration with cash, and Kyrgyzaltyn \u2014 subject to the Kyrgyz government&#8217;s approval \u2014 would transfer most of the shares it currently holds in Centerra back to Centerra.<\/p>\n<p>Chaarat said it planned debt and equity financing for the deal and had the backing of &#8220;two major international financial institutions.&#8221;<\/p>\n<p>Under its current arrangement with Centerra, Kyrgyzstan owns a 26.6 per cent stake in the Canadian company, the biggest foreign investor and taxpayer in the former Soviet republic, contributing up to 10 per cent of its gross domestic product.<\/p>\n<p><em>\u00a9 Thomson Reuters 2018<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Centerra and Kyrgyzstan have had a series of disputes over sharing profits from Kumtor, and Chaarat said it was offering to increase the nation&#8217;s stake in the mine<\/p>\n","protected":false},"author":578,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/6957"}],"collection":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/users\/578"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/comments?post=6957"}],"version-history":[{"count":0,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/6957\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media?parent=6957"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/categories?post=6957"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/tags?post=6957"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}