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Investing in the “stans” is risky business

Posted by ipso facto @ 12:15 on December 15, 2021  

Centerra Gold hit with lawsuit over rights violations at Kyrgyzstan mine

Kyrgyzstan is suing Canada’s Centerra Gold (TSX: CG) over alleged cyber-security and employee rights violations at its formerly owned Kumtor gold mine, in the latest chapter of an ongoing dispute between the parties over the expropriated asset.

The legal challenge claims that Centerra has blocked user and administrator access to Kumtor’s computers since May 2021, shortly before the government appointed a temporary external manager at the mine.

“Once again, it appears that the Kyrgyz government is trying to divert attention from the fact that it sent secret police to seize the Kumtor gold mine,” a spokesperson for Centerra Gold said in an emailed statement.

“As we have said previously, when government authorities confiscated computers and passwords of individual Kumtor employees, Centerra’s global IT systems restricted user access to preserve the integrity of the organization’s global IT infrastructure and its confidential information. The mine’s safety systems were not impacted,” he noted.

Centerra Gold hit with lawsuit over rights violations at Kyrgyzstan mine

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Post by the Golden Rule. Oasis not responsible for content/accuracy of posts. DYODD.