Kumtor

CAUTION: CENTERRA IS NO LONGER IN CONTROL OF THE KUMTOR MINE, AS A RESULT OF THE KYRGYZ GOVERNMENT ACTIONS IN MAY 2021. CENTERRA HAS INITIATED INTERNATIONAL ARBITRATION PROCEEDINGS. KUMTOR’S PREVIOUSLY ISSUED 2021 GUIDANCE AND THREE-YEAR OUTLOOK HAS BEEN SUSPENDED BY CENTERRA.

Centerra owns 100% of the Kumtor gold mine through its wholly owned subsidiary Kumtor Gold Company (KGC). Kumtor is located in the Kyrgyz Republic, about 350 kilometres southeast of the capital Bishkek and about 60 kilometres north of the border with the Peoples Republic of China. It is the one of the largest gold mines in Central Asia owned by a Western-based company, having produced more than 13.2 million ounces of gold between 1997 and the end of 2020.

In 2020 Kumtor’s gold production was over 556,000 ounces.

The Kumtor gold deposit is located in the southern Tien Shan Metallogenic Belt, a major suture that traverses Central Asia, from Uzbekistan in the west through Tajikistan and the Kyrgyz Republic into northwestern China, a distance of more than 1,500 kilometres. A number of important mesothermal-type gold deposits occur along this belt including Muruntau, Zarmitan, Jilau and Kumtor.