UPDATE 3-Kyrgyzstan sets state of emergency to protect Centerra mine

Fri May 31, 2013 3:52pm EDT
 
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article | Single Page
[-] Text [+]

* Protest broken up in north, new one flares up in south

* Government to continue talks with Centerra beyond deadline

* Says may still cancel 2009 agreement if no new deal

* Centerra says production in second and fourth quarters to be impacted

* Shares fall as much as 15 percent

By Olga Dzyubenko and Bhaswati Mukhopadhyay

BISHKEK/BANGALORE, May 31 (Reuters) - Kyrgyzstan imposed a state of emergency on a northern district on Friday to protect Centerra Gold's Kumtor mine from protesters but more unrest against the Canadian investor flared up in the country's south.

Centerra's shares fell 15 percent to C$3.52 on the Toronto Stock Exchange after the miner said it would not be possible to determine the extent of the impact on its production and results until grid power was restored at the mine.

"Over 50 percent of our gold production was scheduled to be produced in the fourth quarter. Any delays will impact that, but I do not have the extent of that impact," John Pearson, Centerra's vice-president for investor relations, told Reuters.   Continued...