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Centerra’s Kyrgyz units seek bankruptcy protection over Kumtor mine expropriation

Jun 1, 2021

Source: https://www.mining.com/centerras-kyrgyz-units-seek-bankruptcy-protection-over-kumtor-mine-expropriation/

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Kumtor accounts for a fifth of the ex-Soviet country’s total industrial output. (Image courtesy of Centerra Gold.)

Canada’s Centerra Gold (TSX: CG) announced late on Monday that its Kyrgyz subsidiaries have filed for bankruptcy in New York to protect investors and restructure the company, whose Kumtor gold mine was seized by the former soviet nation last month.

The miner’s units Kumtor Gold Company (KGC) and Kumtor Operating Company (KOC) are seeking protection under Chapter 11 of the US Bankruptcy Code. The court-supervised process provides, among other things, for a worldwide automatic stay of all claims against KGC and KOC, Centerra said.

Original Text (This is the original text for your reference.)

Kumtor accounts for a fifth of the ex-Soviet country’s total industrial output. (Image courtesy of Centerra Gold.)

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