Shakeup at the top of Centerra_Gold sees CEO leaving on production drop, sale of biggest gold mine Via CeciliaJamasmie
it had named director Paul Wright as interim president and chief executive to replace Scott Perry, without providing reasons for the sudden change at the top.
The company said Perry, who led Centerra for seven years, had also resigned as a director of the company and will not be nominated for election at its upcoming annual meeting by the end of September.The move comes as the Toronto-based miner reported a net loss of $2.6 million in its latest quarter, compared to a net loss of $851.7 million in the second quarter of 2021.in Kyrgyzstan for $972 million, a fraction of what it was once worth, to the country’s government.
The nation seized Kumtor in May 2021, alleging that Centerra committed both environmental infractions and tax fraud. The company denied the allegations and laterThe loss of Kumtor hit the miner hard as it was its largest gold operation, accounting for more than half of Centerra’s gold production. Between 1997 and 2020, Kumtor produced more than 13.2 million ounces of gold, with last year’s output slightly over 556,000 ounces.had to be haltedThe gold miner revised its 2022 production guidance in August to 255,000 ounces of gold from the previous 425,000 ounces.
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