18.9 C
Belgrade
Supported byspot_img
spot_img

Centerra sells Mongolia mine and project for $35m

Member of Europium Groupspot_img
Supported byspot_img

Canada-based Centerra Gold has sold its Mongolian business unit to private equity firm OZD Asia for $35-million, in a move that CEO Scott Perry describes as a portfolio enhancement.

The company’s Mongolia assets include the Boroo mine and processing plant, as well as the Gatsuurt project.

Announcing the sale on Friday, Perry said that the disposition of the Mongolian unit would allow management to focus on the company’s development projects in other jurisdictions, including Canada and Turkey.

Supported by

In Canada, Centerra owns the Mt Milligan mine, in British Columbia, and in Turkey, it is building the Öksüt mine.

Centerra’s other asset is the Kumtor mine, in the Kyrgyz Republic, in which London-listed Chaarat has expressed an interest.

Source: m.miningweekly

Supported byElevatePR Digital

Related News

Progress at Plymouth’s tungsten mine: Final permit secured for production restart

Plymouth’s potential tungsten mine is on track to achieve significant production levels following the approval to commence operations. Tungsten West Plc has secured a...

Elementos pursues acquisition of stake in Iberian smelting for European tin market expansion

Elementos, a tin exploration and development firm, has initiated a non-binding term sheet to potentially acquire up to a 50% interest in Iberian Smelting...

EU corporate sustainability directive: Implications for global supply chains and Africa’s mining communities

On 24 May, the European Union enacted the Corporate Sustainability Due Diligence Directive (CSDDD), a landmark legislation requiring large businesses to identify and mitigate...

Rio Tinto defends environmental safety of Serbia’s Jadar lithium project

Rio Tinto announced on Thursday that it had published new environmental studies indicating the safety of its Jadar lithium project in Serbia, which was...
Supported by
Supported by
Supported by
error: Content is protected !!