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Be the first with the news that moves the market- Centerra Gold (CG) has issued an all-is-well update as protests continue in Kyrgyzstan following the parliamentary election on Sunday
- The company said operations are continuing at its Kumtor Mine, located 430 kilometres from the country’s capital of Bishkek
- Protests began on Monday after several parties were accused of buying votes, which led to a call for the results to be annulled
- The situation then escalated on Monday night when demonstrators stormed parliament
- Centerra Gold (CG) is currently down 11.59 per cent and is trading at C$13.92 per share
Centerra Gold (CG) has issued an all-is-well update as protests continue in Kyrgyzstan following the parliamentary election on Sunday.
According to today’s announcement, the company is continuing operations at its Kumtor gold mine, which is located in a mountainous region roughly 430 kilometres southeast from the capital city of Bishkek.
While Centarra’s activities are as-yet uninterrupted, the Toronto-based company said it would continue to monitor the situation to ensure the safe transport of people and supplies to the mine.
“The political situation is continuing to evolve, and the company is taking all the necessary precautions to ensure the safety of its personnel and operations,” Centerra said in a statement.
The political unrest began on Monday after allegations of vote-buying, with demonstrators calling for the resignation of pro-Russian President Sooronbay Jeenbekov and a re-run of Sunday’s poll.
During initial clashes with police, one person died and almost 600 were injured, according to Kyrgyzstan’s Ministry of Health.
However, President Jeenbekov appealed for a return to order and accused “certain political forces” of attempting to illegally seize power.
The unrest then hit a peak on Monday night when protestors broke into parliament and a number of other government buildings, freeing several high-profile prisoners in the process.
These freed detainees include former President Almazbek Atambayev, who had been serving and 11-year sentence for corruption.
The country’s Central Election Commission said it has now “invalidated the election results” but it’s not yet known what will happen from here.
Centerra Gold (CG) is currently down 11.59 per cent and is trading at C$13.92 per share at 11:57am EDT.
