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Published in House and Home on Tuesday, May 26th 2009 at 13:57 GMT, Last Modified on 2009-05-26 13:57:42 by Market Wire🞛 This publication is a summary or evaluation of another publication
TORONTO, CANADA--(Marketwire - May 26, 2009) - Centerra Gold Inc. (TSX:CG) announced that unionized employees of its Boroo Mine in Mongolia today initiated a work stoppage. This stoppage is the result of additional wage demands, which the Company considers unreasonable. As a result mining and milling at Boroo has been temporarily suspended. The Company believes this work stoppage is illegal, as there is a collective bargaining agreement in place. The Company is in discussions with the workforce to resolve the issues.
Cautionary Note Regarding Forward-looking Information
This news release contains forward-looking information. Such forward-looking information involves numerous assumptions, risks, uncertainties and other factors that could cause actual events to differ materially from those expressed or implied by such forward-looking information. All information, other than statements of historical fact, is forward-looking information. Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable by us, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking information.
Centerra disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except to the extent required by applicable laws.
About Centerra
Centerra is a growth-oriented, gold Company focused on acquiring, exploring, developing and operating gold properties primarily in Asia, the former Soviet Union and other emerging markets worldwide. Centerra is a leading North American-based gold producer and the largest Western-based gold producer in Central Asia and the former Soviet Union. Centerra's shares trade on the Toronto Stock Exchange under the symbol CG. The Company is based in Toronto, Canada.
Additional information
Additional information on Centerra is available on SEDAR at [ www.sedar.com ] and the Company's website at [ www.centerragold.com ].