Centerra Gold Inc affirmed on Monday that the ball mill at its Kumtor gold mine in Kyrgyzstan will recommence operations by mid-April after undergoing repairs to its ring gear. Despite the shell replacement of the ball mill, Centerra assured that gold production and cash costs would remain unaffected by the maintenance activity. Owned 53 percent by uranium producer Cameco Corp, Centerra addressed concerns over delays stemming from the Kyrgyz government’s pending decision on ratifying the mine. Last month, both Canadian firms indicated that the Kyrgyz government required until April 30 to finalize its decision, a factor that has weighed on Centerra’s stock performance. Shares of Centerra experienced a dip to a three-month low on Monday morning, declining by 51 Canadian cents or 4.1 percent, trading at C$11.83 on the Toronto Stock Exchange.
