Centerra says Kumtor waste-dump movement faster than expected

Fri May 3, 2013 6:35pm EDT
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May 3 (Reuters) - Canadian miner Centerra Gold Inc said a waste-rock dump at its Kumtor mine in Kyrgyzstan moved at a greater-than-expected rate, and warned that any delays to alternative plans will hurt operations and results.

The Canadian company said it relocated some infrastructure at the mine beginning in mid-March due to the increased movement at its Davidov Valley Waste-rock dump.

Planned gold production has not been affected until now, the company said.

Centerra is finalizing an alternative long-term waste-rock dumping plan and is working with the government for its approval, it said on Friday.

The government has set up a special commission to visit the mine and inspect the movement.

Centerra is embroiled in a bitter row with the Kyrgyz government over the Kumtor mine, the largest gold deposit operated in central Asia by a Western company.

The company in February received a new $315 million claim for alleged environmental destruction, on top of the previous claim of $142 million.

Centerra is scheduled to report its first-quarter results on May 8.