Close X
Monday, November 25, 2024
ADVT 
National

Allegations That Led To Former Centerra Gold CEO's Arrest Without Merit: Company

The Canadian Press, 05 Aug, 2015 11:01 AM
    Toronto-based miner Centerra Gold says the arrest of a former CEO in Bulgaria appears to be related to corruption allegations that are without merit.
     
    Centerra Gold says Leonard Homeniuk was arrested by Bulgarian authorities at the request of Kyrgyzstan, where the company's largest gold mine is located.
     
    Centerra Gold spokesman John Pearson says the allegations that led to Homeniuk's arrest and detention date back to when the company was founded in 2004 and specifically relate to the Kumtor mine.
     
    Kyrgyzstan and Centerra Gold have sparred over the ownership and revenue of the Kumtor project for years.
     
    A non-binding agreement signed by both sides in 2013 calls for state-owned Kyrgyzaltyn JSC to exchange its 32.7 per cent interest in Centerra Gold for 50 per cent of a joint venture that would own Kumtor.
     
    Pearson says the company remains in negotiations with Kyrgyzstan over the future of the Kumtor mine.
     
    Foreign Affairs says it is aware of a Canadian detained in Bulgaria and will offer consular services, but it declined to identify the person, citing privacy concerns.
     
    The 68-year-old Homeniuk led Centerra Gold from 2004, when the Kumtor mine was spun off into its own company by Saskatchewan-based miner Cameco Corp., until his retirement in 2008.
     
    Pearson says Centerra Gold is Kyrgyzstan's biggest company in terms of revenue, number of employees and the amount of taxes it pays the country.
     
    The Kumtor mine produced 567,693 ounces of gold in 2014, worth more than US$620 million at current prices.
     
    Kyrgyzstan had issued an Interpol red notice for Homeniuk's arrest for involvement in corruption.

    MORE National ARTICLES

    Toddler Found Dead In Victoria Hotel Died Of Natural Causes: BC Coroners Service

    Toddler Found Dead In Victoria Hotel Died Of Natural Causes: BC Coroners Service
    The service says 18-month-old Saam Zohrevand — also known as Saam Darya — developed both a lung infection and bacterial meningitis.

    Toddler Found Dead In Victoria Hotel Died Of Natural Causes: BC Coroners Service

    Homeless In Abbotsford Not Responsible For Defecating In Parks: Lawyer

    Homeless In Abbotsford Not Responsible For Defecating In Parks: Lawyer
    The City of Abbotsford is wrong to blame the homeless for defecating in public spaces after dumping chicken manure at encampments in an effort to evict people, a lawyer has argued

    Homeless In Abbotsford Not Responsible For Defecating In Parks: Lawyer

    Russia's Arctic Claim To North Pole To Put Political Heat On Canada, Expert

    Russia's Arctic Claim To North Pole To Put Political Heat On Canada, Expert
    A defence expert says Russia's new bid for a vast swath of Arctic territory, including the North Pole, backs Canada into an uncomfortable corner in future negotiations over the frozen region.

    Russia's Arctic Claim To North Pole To Put Political Heat On Canada, Expert

    B.C. First Nation Makes Cash, Land Agreement In Steps Towards Treaty

    B.C. First Nation Makes Cash, Land Agreement In Steps Towards Treaty
    TERRACE, B.C. — The Kitselas First Nation has signed multimillion-dollar cash and land agreement-in-principle with the provincial government.

    B.C. First Nation Makes Cash, Land Agreement In Steps Towards Treaty

    Community Rallies To Save Beached Whales On Nova Scotia's Cape Breton Island

    Community Rallies To Save Beached Whales On Nova Scotia's Cape Breton Island
    A resident of a small community on Cape Breton's west coast says about 25 people rallied to try and save 16 beached pilot whales today after they became stuck on the rocky shores of St. George's Bay.

    Community Rallies To Save Beached Whales On Nova Scotia's Cape Breton Island

    Search Ends Tragically For Bryce Gray Missing In Northwestern B.C. Lake

    Search Ends Tragically For Bryce Gray Missing In Northwestern B.C. Lake
    The body of a teenager has been pulled from a lake in northwestern B.C., ending a nearly week-long search.

    Search Ends Tragically For Bryce Gray Missing In Northwestern B.C. Lake

    PrevNext