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20 OCTOBER 2006  

American and Uzbek joint enterprise Zarafshan-Newmont was recognized a bankrupt

The court of Uzbekistan has recognised American and Uzbek joint enterprise Zarafshan-Newmont a bankrupt. The enterprise was a gold mining venture, 50% of which belonged to Newmont Mining Corp. This information was published by Fergana with references to Reuters.

The reason for such a decision was claimed to be of tax legislation breach.

Newmont Mining Corp does not agree with the decision and intends to address a court of international level to solver the problem.



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