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Centerra Woes Continue After Kyrgyzstan Govt Declares Emergency; Centerra Down 10.5%

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Centerra Gold Inc. (CG.TO) today said it "understands" that the Kyrgyz Government has taken steps to remove the road block affecting the mine, however the Government has declared a state of emergency. Reuters reported that 92 people were arrested after police used tear gas and stun grenades to clear protestors.

Reuters had reported that villagers were "demanding the company build roads, schools and water pipelines and offer them loans and jobs in the Kumtor shafts", quoting a female employee at Kyrgyzstan’s Washington, D.C., embassy. Centerra's mine is the largest gold mine run by a Western company in the country.

Centerra has shaved 44 cents off its share price since the resumption of trading and is now at $3.71, bringing it nearer a yr low of $3.30.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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