About Us

Our Values

We believe that how we conduct business and how all employees act in fulfilling their job responsibilities are fundamental to achieving our vision to build a team-based culture of excellence that responsibly delivers sustainable value and growth. While Centerra’s ultimate objective is to deliver value to our shareholders, integrity and ethics will be the foundation for everything we do. In endeavouring to achieve our vision we will follow our core values of:

Team Meeting

Win As A Team

  • Committed and highly engaged.
  • Recognize contributions and efforts of each team member.
  • Results focused.

Be Responsible Miners

  • Meet all government regulation and internal governance standards.
  • Ensure we actively and transparently engage our people and the communities around us.
  • Minimize the potential for adverse impacts that may arise from our operations to levels as low as reasonably achievable, taking into account social and economic factors.

Strive for Continuous Improvement

  • Continually improve the management of our operations so we may respond to the economic, environmental and social expectations of our stakeholders, including our employees, communities, shareholders, governments and the public.
  • Challenge the status quo, embrace the change and search for new ways to grow our business.

Deliver Results

  • Strive for operational excellence, safe production and be accountable for our results.
  • Be a leading performer among our peers with regard to shareholder value, business ethics, workplace safety, environmental protection and community economic development.

We believe our strong commitment to our vision and these values will continue to make Centerra the employer of choice and the business partner of choice by governments, state-owned enterprises and special interest groups in the countries we operate in. As an international company, we respect the different needs and values of people and their cultures and operate with a high level of transparency to ensure stakeholder confidence.

OUR VISION

Centerra’s vision is to build a team-based culture of excellence that responsibly delivers sustainable value and growth.

OUR STRATEGY

Centerra’s objective is to meaningfully grow its low-cost operating portfolio, while building a great place to work, with care and consideration for the environment and the communities in which the Company operates. Centerra aims to achieve this overall strategy through the following four strategic imperatives:

  • Create a Great Place to Work: We will attract, retain, and develop diverse skilled talent to effectively execute on our strategy in a collaborative and inclusive environment.
  • Improve ESG Performance: We will maintain and enhance value for all our stakeholders by embedding ESG principles across the enterprise and throughout the mine life cycle and by delivering on our targets.
  • Drive Growth: We will identify, critically evaluate, and execute targeted growth opportunities to ensure the organization is best positioned for sustainable growth and value creation.
  • Optimize Existing Assets: We will leverage our existing operations with consistent performance, focusing on activities that generate the most value.
Our Strategy

Our History

Centerra Gold became a publicly listed company in June 2004, after its Initial Public Offering listing on the Toronto Stock Exchange under the symbol “CG”.

March 2002
Cameco Gold acquired an initial 52% interest in Australian gold company AGR Limited, which owned 95% of the Boroo gold mine in Mongolia, and as part of the transaction, transferred a 61% interest in the Gatsuurt exploration property, also in Mongolia, to AGR. Following the acquisition of its initial interest in AGR, Cameco Gold increased its interest in AGR to 56% by funding $3 million of additional exploration activities at the Boroo and Gatsuurt properties. The company acquired the remaining interest in AGR during June 2004. The development of the Boroo mine was financed by a $70 million loan from Cameco Gold. The Boroo mine started commercial operations on March 1, 2004 and produced 245,000 ounces of gold in 2004.
Cameco continued to manage these assets through its wholly owned Cameco Gold Inc. On January 5, 2004, Cameco Corporation and the Kyrgyz Republic announced their agreement to transfer all of Kumtor Gold Company to a new jointly owned Canadian company called Centerra Gold Inc., which included 100% of Cameco Gold’s assets.
April 24, 2009
Centerra Gold negotiated a New Terms Agreement between Centerra Gold Inc., the government of the Krygyz Republic and Cameco Corporation, this Agreement was signed in June 2009, and Centerra Gold announced that as part of the closing, it issued from treasury 18,232,615 common shares of Centerra Gold to the government of the Kyrgyz Republic, which brought the total shares issued and outstanding for Centerra Gold to 234,772,566. Cameco also agreed to transfer to the government of the Kyrgyz Republic between 14.1 and 25.3 million common shares of Centerra Gold.
December 8, 2009
Cameco announced it intended to dispose of all its 113,918,472 common shares of Centerra Gold by selling 88,618,472 common shares of Centerra Gold through a syndicate of underwriters led by CIBC World Markets Inc. and RBC Capital Markets, in an agreement entered in with a syndicate of underwriters as a bought deal. Concurrently with the closing of this offering it would also transfer 25,300,000 common shares of Centerra Gold to Kyrgyzaltyn JSC.
December 30, 2009
Cameco completed its sale of Centerra Gold’s shares in a public offering of 88,618,472 common shares of Centerra Gold at a price of C$10.25 per share, for net proceeds of approximately $872 million. At the same time Cameco transferred 25,300,000 common shares of Centerra Gold to Kyrgyzaltyn JSC pursuant to the Agreement on New Terms of April 24, 2009. Upon completion of closing the public offering and share transfer to Kyrgyzaltyn JSC, Cameco disposed of its entire interest in Centerra Gold.
January 2013
Centerra Gold became the sole 100% owner of the Öksüt Gold Project in Central Anatolia, Türkiye when it acquired its partner’s (Stratex) 30% interest in the property for US$20 million and a 1% NSR (which was subsequently bought back in December 2015).
March 2015
the Company formed a 50/50 partnership with Premier Gold Mines for the development of the Greenstone Gold Property, including the Hardrock Gold Project one of Canada’s largest undeveloped open pit gold mines, located in Ontario, Canada.
October 20, 2016
Centerra Gold acquired Thompson Creek Metals Company for US$1.03 billion. With this acquisition the Company favourably repositioned its geographic profile by adding a world class, long life, low cost producing mine located in Canada, the Mount Milligan gold copper mine in British Columbia. Also included in the acquisition were the Endako and Thompson Creek primary molybdenum mines in British Columbia and Idaho, respectively, and the Langeloth Metallurgical Facility in Pennsylvania, USA.
January 2018
Centerra Gold completed the acquisition of AuRico Metals Inc. for approximately US$247 million (C$310 million). With this acquisition the Company acquired the Kemess property in British Columbia, Canada; a low-cost brownfield development asset that is host to the feasibility-stage Kemess deposit and preliminary economic assessment level Kemess East projects. Also acquired was a high-quality, free-cash flow generating royalty portfolio which includes a 1.5% net smelter return (“NSR”) royalty on the Young-Davidson gold mine in Ontario and a 2.0% NSR royalty on the Fosterville mine in Australia.
June 2018
Centerra Gold sold the gold royalty portfolio for US$155 million and a silver stream on the Kemess Project for US$45 million to Triple Flag Mining Finance Ltd.
October 12, 2018
Centerra Gold sold its Mongolian business unit (including the Boroo project and related infrastructure as well as the Gatsuurt development property) to OZD ASIA PTE Ltd., a private Singapore based company.
January 31, 2020
Centerra’s third operating mine, the Öksüt Gold mine in Central Anatolia, Türkiye made its first gold pour, and achieved commercial production as of May 31, 2020.
December 2020
Centerra announced the sale of its 50% interest in the Greenstone Gold Mines Partnership. The sale closed on January 19, 2021.
April 2021
Centerra listed on the New York Stock Exchange under the symbol “CGAU” and began trading on April 15, 2021.
July 2022
Centerra announced the closing of the global arrangement agreement with Kyrgyzaltyn JSC (“Kyrgyzaltyn”) and the Government of the Kyrgyz Republic relating to the disposition of Centerra’s ownership of the Kumtor mine and investment in the Kyrgyz Republic and the termination of Kyrgyzaltyn’s involvement with the Company. As a result of this agreement, Centerra has purchased and cancelled all of Kyrgyzaltyn’s Centerra common shares (approximately 77.4 million) in exchange for, among other things, Centerra’s 100% equity interest in its two Kyrgyz subsidiaries, and indirectly, the Kumtor mine (with Kyrgyzaltyn and the Kyrgyz Republic assuming all responsibility for the Kumtor mine, including all reclamation and environmental obligations).
September 2023
Centerra announced a new strategy focused on maximizing the value for each asset in its portfolio. The new strategic plan identifies the opportunities at each asset that will drive future value and growth for the Company. At Mount Milligan, the Company expects strong operational performance and aims to optimize operations and maximize the value of the large deposit. At Öksüt, the updated life of mine plan demonstrates particularly strong production and cost performance in the near-term with a steady gold production profile continuing throughout the life of mine. At Thompson Creek, Centerra has commenced a feasibility study, expected to be completed by mid-2024, to support a disciplined path to restarting operations and realizing significant vertical integration synergies with the Langeloth Metallurgical Facility. And finally, at the Goldfield Project, Centerra has decided to re-evaluate the project scope of work with exploration focused on oxide and transition material.
February 2024
Additional agreement with Royal Gold has resulted in a life of mine extension of the Mount Milligan mine to 2035 and established favourable parameters for potential future mine life extensions. Extending Mount Milligan’s mine life by two years is a key first step in Centerra’s strategy to realize the full potential of this cornerstone asset in a top-tier mining jurisdiction.Centerra’s strategy to further increase mine life at Mount Milligan has three prongs: (1) immediately initiate a Preliminary Economic Assessment to study the incorporation of the significant drilled inventory to the west of the existing pit, and to evaluate options for capital projects in the mine and the mill that could lead to further mine life extensions; (2) continue to invest in exploration drilling to unlock the large mineral endowment at Mount Milligan; and (3) continue to advance a site optimization program at Mount Milligan, focused on enhanced safety performance and cash flow improvement.