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Friday, 20th February 2009 (2770 views)

The mill gear at the Kumtor Mine is to be replaced, Centerra Gold has announced.

On February 24th the mill at the mine will be replaced with an on-site spare unit, necessitating the shut-down of the facility for between eight and ten days.

The work was identified as being needed this week following the detection of vibrations and the discovery of a damaged tooth in the gear.

Centerra has said that it expects to be able to meet its gold production and cost guidance over the course of the year, making up for the 160,000 tons of low-grade material processing that will be lost during the shut-down period.

Earlier this month Centerra reported results for the fourth quarter and full year of 2008, which revealed annual sales revenue to be up 70 per cent to $636 million (£445 million).

The results also showed that during last year, 556,251 ounces of gold were produced at the Kumtor Mine.

 

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