Centerra Gold (TSX: T.CG, Stock Forum) Friday said its Kyrgyzstan unit received claims from that country’s environment authority worth $152 million related to alleged environmental damage due to mining at its Kumtor project, this according to a company news release.
Centerra believes that the allegations contained in the claims are exaggerated or without foundation.
"We believe that the Kumtor Project complies with Kyrgyz laws, and meets or exceeds Kyrgyz and international environmental, safety, and health standards. The activities raised in the claims, particularly the mining and placement of waste rock on waste dumps, have been approved at all times by appropriate Kyrgyz authorities and are specifically referred to in Kumtor's annual mine plans, which are submitted and approved annually by Kyrgyz authorities," said Centerra Gold President and CEO Ian Atkinson.