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