Canadian company acquired operator of Endako and Mount Milligan mines

Centerra will acquire all of the issued and outstanding common shares of Thompson Creek, according to a news release on July 5.

Mount Milligan Mine in July 2015

Mount Milligan Mine in July 2015

Thompson Creek Metals Company Inc., which operates Mount Milligan Mine near Fort St. James and Endako Mine near Fraser Lake, has been acquired by Toronto-based gold mining company Centerra Gold Inc.

Centerra will acquire all of the issued and outstanding common shares of Thompson Creek, according to a news release on July 5.

At Mount Milligan, the addition of secondary crushing by year end 2016, as planned, is expected to increase process rate to more than 62,500 tonnes per day. An expansion of the flotation circuit, with the addition of regrind capacity, is expected to improve gold and copper recoveries.

The Endako Mine will continue to be kept on care and maintenance.

In addition to Mount Milligan, Centerra’s assets include the Kumtor Mine in the Kyrgyz Republic in Central Asia and the Boroo Mine in Mongolia.

The gold producer also owns the Oksut Gold project in Turkey and is a joint venture partner in the Trans-Canada Project in Ontario.