GOLD 1284.49 $/ozChange: 2.87
PLATINUM 1403.50 $/ozChange: 3.50
R/$ exchange 10.59Change: -0.08
R/€ exchange 14.66Change: -0.16
 
We have detected that the browser you are using is no longer supported. As a result, some content may not display correctly.
We suggest that you upgrade to the latest version of any of the following browsers:
         
close notification
powered by
Advanced Search
 
 
 
Home
 
Sector News
 
Base Metals
 
Copper
 
 
CANADA
 
Terrane launches first stage of Mt Milligan construction
PRINT
 
 
Embed Code Close
content
 
3rd June 2010
TEXT SIZE
Text Smaller Disabled Text Bigger
 

TORONTO (miningweekly.com) – Vancouver-based Terrane Metals has awarded the first construction contract for its Mount Milligan copper/gold project, in British Columbia, kicking off the first phase of a 30-month construction programme, the firm announced on Thursday.

A road upgrade contract was awarded to Duz Cho Construction, for 26 km of upgraded all-weather forest service access road which will connect the project site with the Germansen North Road, a key transportation corridor in the region.

The upgraded road also will link in with the government-funded Mackenzie Connector project to provide all-weather road access between the communities of Mackenzie and Fort St James.

The awarding of the first contract marks an “important milestone” for the company, CEO Robert Pease commented.

Terrane said on May 20 that it had finalised contractual terms for the procurement of long-lead-time items for the project, with orders placed for the process plant and power supply equipment representing around 12% of the total initial capital cost.

Mount Milligan will be a conventional truck-and-shovel openpit mine with a 60 000-t/d copper flotation process plant.

The first six years of the 22-year mine plan are designed to accelerate the extraction of near-surface and higher-grade gold reserves with production forecast to average 262 100 oz/y at a cash cost, net of a copper credit, of a negative $8/oz.

Canada's second-biggest gold-miner, Goldcorp, owns 60% of Terrane.

Edited by: Liezel Hill

 

To subscribe to Mining Weekly's print magazine email subscriptions@creamermedia.co.za or buy now.

FULL Access to Mining Weekly and Engineering News - Subscribe Now!
Subscribe Now Login