The Kyrgyz Republic government is once again trying to force Centerra to renegotiate the terms of its mining license for the Kumtor open pit gold mine, the country’s largest foreign investment.
The world’s top platinum company is reportedly engaged in negotiations with union leaders and the government and it is expected to release a formal announcement on whether talks had succeeded in saving jobs later today.
A social media user who claims being a commodities trader at giant Glencore (LON:GLEN) opened up a forum on Reddit on Sunday in which he answered lots of questions about what it's like to work at the big firm.
Local media reported that Kyrgyzstan minister of economy, Temir Sariyev, implied that Centerra would have its permit revoked and a new company would continue to extract gold from Kumtor.
Financial Times is reporting that Deloitte was in charge of auditing the working capital for ERA, while Ernst & Young conducted overall evaluation of the transaction.
