Centerra Gold plunges into losses in the second quarter of 2014

With summer at its dog-day stage, the time nears for a final new deal between Canada’s Centerra and the Kyrgyz authorities over the Kumtor gold mine – originally due for June but postponed until the weather gets a bit cooler. Located 4 000 m above sea level, Kumtor is the largest gold mine in Central Asia operated by a Western company. It is the industrial backbone of the Kyrgyz economy, alone contributing 12% of gross domestic product. It has been in production since 1997 and has produced more than 9.5-million ounces of gold to the end of June. But...

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