KYRGYZ REPUBLIC – The Kumtor gold mine operated by Toronto-based CENTERRA GOLD has reached the notable milestone of pouring its 5-millionth ounce of gold. The open pit Kumtor mine is the largest gold mine operated by a Western-based company in Central Asia. Ninety-five per cent of its workforce of 1,600 are Kyrgyz citizens.
Centerra is focused on acquiring, exploring, developing and operating gold properties primarily in Central Asia, the former Soviet Union and other emerging markets. The two gold mines (Kumtor and Boroo in Mongolia) operated by the company are estimated to produce 900,000 oz in 2004 at a total cash cost of about US$185 per ounce. The company’s website is at www.CenterraGold.com. In January 2004, CAMECO CORP. consolidated its gold assets in newly-created Centerra Gold, the sixth-largest gold producer based in North America.