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FINANCIAL NEWS
Canada’s Conterra eyes $2.9b expansion in 2011
14 Jun 2010
(MENAFN) The Chief Executive Officer at Centerra Gold Inc. said that the Toronto-based company may invest $2.9 billion in buying assets in the next year to boost production, Reuters reported.
The company?s mine in Kyrgyzstan, Kumtor, produced more than 525,000 ounces of gold last year, the CEO said. The company, which also operates a mine in Mongolia, plans to keep expanding production in Asia, he added.
It is worth mentioning that Centerra was spun off from Cameco Corp., the world?s second-biggest uranium producer, in June 2004.
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