Centerra Gold Inc. plans to mine at Kumtor at least 15.5 tons of gold in 2018

Bishkek, Nov. 23, 2018 / Kabar /. Canadian company Centerra Gold Inc. plans to mine no less than 15.5 tons of gold in 2018 at the Kumtor gold mine, the press service of the Kyrgyz Government reported on the results of meeting of Prime Minister Mukhammedkalyi Abylgaziev with President and CEO of Centerra Gold Inc. Scott Perry in Bishkek.

The head of government was informed that at the request of the Kyrgyz side this year, the company plans to ensure production at the Kumtor mine not less than 15.5 tons of gold, which exceeds the forecast figures, and continue to intensify efforts to improve the efficiency of the enterprise and achieve an increase in production in 2019.

In addition, the company is developing additional proposals for further investments for a potential increase in production capacity of the enterprise.

Centerra Gold Inc decided to finance a two-year exploration program. In case of confirmation of the expected results of the implementation of this program, conditions will be created for extending the life of the Kumtor mine for several years.

The company's previous forecast for 2018 was 14.15-15.55 tons.

In 2017, production at Kumtor was 17.5 tons. The company explains the decline in gold production in 2018 by developing sites with poorer ores.