Name of the Project
Kemess gold/copper project.

Location
Toodoggone district, in the northern interior of British Columbia, Canada.

Project Owner/s
Canadian-based gold miner Centerra Gold.

Project Description
The project entails the potential restart of the past-producing Kemess gold/copper operation through an integrated openpit and underground mining development based on the Kemess Main and Kemess Underground areas. 

The 2026 preliminary economic assessment (PEA), published in January, outlines a conventional truck-and-shovel openpit mining operation, followed longhole open stoping underground mining about two years later. 

Once underground production starts, the two mining methods are expected to operate concurrently over an initial 15-year mine life. 

Average yearly production is estimated at 171 000 oz of gold and 61-million pounds of copper, or about 267 000 gold-equivalent ounces. 

Kemess is expected to treat about 254.87-million tonnes of material over the life-of-mine through a process plant with average throughput of 50 000 t/d after 2033.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The PEA indicates an after-tax net present value (NPV), at a 5% discount rate, of $1.09-billion and an internal rate of return (IRR) of 16.4%, based on long-term prices of $3 000/oz gold and $4.50/lb copper. 

At spot prices of about $4 500/oz gold and $6.00/lb copper, the after-tax NPV increases to $2.754-billion and the IRR to 28.7%.

Capital Expenditure
Initial nonsustaining capital expenditure (capex) is estimated at $771-million. Expansionary nonsustaining capex of $277-million is expected over the following two years to support the start of underground operations.

Planned Start/End Date
First production is expected in late 2031.

Latest Developments
Centerra expects to advance technical work towards a prefeasibility study in 2027.

Key Contracts, Suppliers and Consultants
Not stated.

Contact Details for Project Information
Centerra Gold corporate office, tel +1 416 204 1953 or email info@centerragold.com.