Kyrgyzstan denounces Centerra directors, withholds votes again

, Bitcoin News

An April 2013 handout photo of Centerra Gold's Kumtor gold mine in Central Asia

TORONTO — One of Centerra Gold Inc.’s Kyrgyz directors denounced the company at its annual meeting on Tuesday, saying there is “urgent need” for change at the management and board level.

“There are fundamental breaches of trust between Centerra and the government of the Kyrgyz Republic, which has led to instability of the Kumtor project,” Bektur Sagynov, deputy chairman at Kyrgyzaltyn JSC, told shareholders at the meeting in Toronto.

State-owned Kyrgyzaltyn, which controls 32 per cent of Centerra shares, also withheld votes for all of the gold miner’s non-Kyrgyz directors for the second straight year. It withheld votes on some directors in prior years.

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