Nippon Steel hires Mike Pompeo to advise on US Steel deal
Nippon Steel also faces objections from the powerful United Steelworkers (USW) union, which fears the deal could lead to job losses.
Canadian miner Centerra Gold logged late Wednesday a second-quarter profit of $1.6 million, compared with a net loss of $49 million a year earlier, mainly thanks to an 89% increase in its annual gold output boosted by its flagship Kumtor mine, in Kyrgyzstan.
The Toronto-based firm increased its yearly gold production forecast to a range of 615,000 to 675,000 ounces from the previously expected 605,000 ounces to 660,000 ounces.
Centerra also said it is continuing negotiations with the Kyrgyz government about a possible restructuring to resolve all outstanding concerns relating to the Kumtor mine.
The country’s parliament has set a new Sept. 10 deadline for the government to agree to an improved deal with the company or revoke its license altogether.
The Canadian miner is a significant employer and taxpayer in the country and a key contributor to the Kyrgyz economy. In fact, the Kumtor open pit gold mine accounts for 60% of the nation’s industrial output and, according to the company, it is the largest gold mine operated in Central Asia by a Western-based company.
