Mine Operations

Mt Millgan Mine Logo

Mount Milligan Mine

BC, CANADA

Mount Milligan is located approximately 155 kilometres northwest of Prince George in central British Columbia, Canada. The Mount Milligan Mine is a conventional truck-shovel open-pit copper and gold mine and concentrator with a 60,000 tpd capacity copper flotation processing plant.

In February 2024, Centerra announced an additional agreement with Royal Gold, which enables a life of mine extension at Mount Milligan to 2035 and established favourable parameters for potential future life of mine extensions.

Extending Mount Milligan’s mine life by two years is a key first step in our strategy to realize the full potential of this cornerstone asset in a top-tier mining jurisdiction.

The next step of our strategy is to further increase mine life at Mount Milligan beyond 2035, which will be done in three phases:
1. Immediately initiating a preliminary economic assessment to evaluate the substantial resources with a goal to unlock value beyond the current 2035 mine life.
2. Continuing our exploration drilling program, setting the stage for potential future resource additions from the significant mineral endowment.
3. Continue to advance a site optimization program, looking at all aspects of the operation to maximize the potential of the orebody, and to set the mine up for long term success to 2035 and beyond.

Operations Mt Milligan

2023 Operational Performance

GOLD PRODUCTION

154K oz

COPPER PRODUCTION

62M lbs

GOLD PRODUCTION COSTS

$1,088/oz

AISC on a by-product basis(1)

$1,156/oz

2024 Guidance

GOLD PRODUCTION

180-200K oz

COPPER PRODUCTION

55-65M lbs

GOLD PRODUCTION COSTS

$950-$1,050/oz

AISC ON A BY-PRODUCT BASIS(1)

$1,075-$1,175/oz

(1) Non-GAAP financial measures. See the “Non-GAAP and Other Financial Measures” section of the Company’s most recent MD&A.

2.8 MILLION OUNCES OF CONTAINED GOLD

total proven and probable reserves

961 MILLION POUNDS OF CONTAINED COPPER

total proven and probable reserves

ACHIEVED COMMERCIAL PRODUCTION

Feb 18, 2014

MINE TYPE

Conventional truck-shovel / open-pit

Community Engagement

As a responsible mining company, our operations boost the economies, living standards, business and employment opportunities in the communities that welcome us into their midst. We strive to ensure our operations are respected as a vital part of local communities, not seen as apart from them. Our goal is to be a valued partner in our communities, by having a lasting, positive impact on them – economically, socially and culturally

Mt Milligan Worker Outside

Mount Milligan Location Map