March 22, 2011 / 10:40 PM / 7 years ago

Centerra extends life of Kumtor mine to 2021

* Sees $5 bln revenue over 10 yrs

* Sees capex of $405 mln

March 22 (Reuters) - Centerra Gold said it expects to extend mining and milling operations at its Kumtor project in the Kyrgyz Republic to 2021 and projected a net cash flow of about $1.5 billion in the next 10 years.

The gold miner forecast $5 billion in total gross revenue from January 2011 to 2021 and capital expenditures of $405 million, including the replacement of existing open-pit mining equipment.

The forecast is based on a new life-of-mine plan, which accounts for the mine’s open-pit reserves and not production from underground mining, Centerra said in a statement.

Shares of the Toronto-based miner closed at C$16.01 on Tuesday on the Toronto Stock Exchange. (Reporting by Arnika Thakur in Bangalore;Editing by Vyas Mohan) (arnika.thakur@thomsonreuter.com; within U.S. +1 646 223 8780 outside U.S. +91 80 4135 5800; arnika.thakur.thomsonreuters.com@reuters.net; Reuters Messaging: arnika.thakur.thomsonreuters.com@reuters.net)

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