Canadian Mining Journal


Centerra rebuffs Chaarat’s $800M offer for Kumtor mine

Before Chaarat Gold (LON: CGH) launched an US$800-million, cash-and-share proposal to acquire Centerra Gold’s (TSX: CG) Kumtor mine in Kyrgyzstan, very few North Americans had even heard of the junior mining company.

But what Chaarat lacks in visibility on this side of the Atlantic, it makes up for with deep management roots in the mining business, hosting a board of directors that includes Artem Volynets, a Russian businessman who cut his teeth consolidating aluminum assets in Russia and parts of the former Soviet Union.

Volynets, who joined Chaarat in March as a non-executive director, made a name for himself as the CEO of Russia’s En+ Group from December 2010 until June 2013, where he implemented strategies to make the group a global leader in mining, metallurgy and energy.

Continue reading at The Northern Miner.