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Chaarat plans to lead consolidation in CIS region

Creamer Media Senior Researcher and Deputy Editor Online
London-listed Chaarat Gold’s offer to take over Kyrgyzstan’s largest gold mine, Kumtor, is only “one of a number of potential deals” that the company is considering in former Soviet Union countries, chairperson Martin Andersson said on Monday, reaffirming the junior’s strategy of selective mergers and acquisitions to attain mid-tier gold miner status. Andersson said that large and smaller gold assets in the Commonwealth of Independent States (CIS) region traded at a significant discount to similar assets other emerging markets, owing to perceived risk, which created an opportunity for industry consolidation.

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