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Tuesday, 25th July 2006 (2045 views)

The efficiency of Centerra Gold's safety procedures were demonstrated following an incident at its Kumtor mine in central Asia.

A rock slide occurred at the gold mine, located in the Kyrgyz Republic, but systems in place allowed miners to be evacuated promptly.

"Kumtor's extensive slope monitoring system was effective, enabling advance evacuation of the mining area and there were no injuries," said parent company Cameco in a release.

The accident, which occurred on July 13th, involved a "significant portion" of the mine's northeast wall and a new mining sequence will be required, deferring production in that section.

This has led Centerra Gold to lower its 2006 gold production forecast by over a third, down from 410,000 to 300,000 ounces. Operation costs at Kumtor are also set to increase.

Centerra Gold is a Canadian company focused on the development of gold properties in central Asia and other emerging markets.

The firm's ethical guidelines state: "We strive for continuous improvement without compromising safety and the environment."

 

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