Centerra Sells Mongolian Subsidiaries
The Boroo gold mine (above) is sold to OZD ASIA PTE Ltd, along with the Gatsuurt gold project.
Centerra Gold sold its Mongolian business
unit, including the Boroo gold mine and
processing facility and the Gatsuurt gold
project, to OZD ASIA PTE Ltd. for $35
million. OZD has purchased all outstanding
shares and debt of Centerra Netherlands,
BVBA which was the 100% direct
shareholder of the company’s Mongolian
subsidiaries, Boroo Gold LLC and Centerra
Gold Mongolia LLC (CGM).
“The disposition of the Mongolian
business unit is another step forward in
enhancing the overall quality of Centerra’s
portfolio of assets and will allow management
to focus on the company’s development
projects in other jurisdictions,
including Canada and Turkey,” said Scott
Perry, Centerra’s president and CEO.
OZD is a private, Singapore based
company that focuses on emerging markets
mining and metal assets.
As featured in Womp 2018 Vol 11 - www.womp-int.com