Loading ...Canada’s Centerra Gold (TSX:CG) has rejected an unsolicited bid for its Kumtor gold mine in Kyrgyzstan from Chaarat Gold Holdings (LON:CGH), received last month, but which the London-listed miner made public on Tuesday.
Responding to media speculation, Chaarat confirmed its offer to Centerra to buy Kyrgyzstan’s largest gold mine, and though it did not disclosed the sum, said the deal would also involve Kyrgyz state firm Kyrgyzaltyn.
The miner, which is developing the Chaarat project in Kyrgyzstan, wanted to grab Kumtor as part of a deal that would have given it ownership of the mine common equity, as well as management and operation of the mine. The Central Asian nation, in turn, would have owned the preferred equity and be entitled to 50% of the economic benefits of the gold mine.
cont. http://www.mining.com/centerra-rejects-unsolicited-offer-kumtor-gold-mine-kyrgyzstan/