Name and Location
Mt Milligan copper/gold project, British Columbia, Canada.

Client
Thompson Creek Metals Company.

Project Description
The Mt Milligan copper/gold project is a conventional truck-shovel openpit mine, located 155 km north-west of Prince George, in British Columbia.

The plan is to build a 60 000 t/d copper flotation concentrator at the mine, where an average metal production of 81-million pounds of copper and 194 000 oz/y of gold is targeted. The mine plan has also been designed to enable the extraction of higher-grade and gold-rich reserves in the early years. In the first six years, gold production will average 262 100 oz/y and account for 55% of the revenue.

The project has an estimated 22-year mine life.

Value
C$1.57-billion.

Duration
Commercial production is expected to start in late 2013.

Latest Developments
Thompson Creek’s new Mount Milligan mine has started producing copper/gold concentrate, bringing the project another critical step closer to commercial status.

The project is producing concentrate that will be stored at the site until the company starts transporting it to an off-site treatment and refinement facility in the fourth quarter.

Since starting production earlier this month, the mill has produced about 500 t of saleable concentrate, with a specification of about 25% copper and 30 g/t gold.

During the current phased mill start-up, the throughput rate has been between 1 500 t/h and 2 000 t/h. The processing plant is operating with one of the two ball mills. The second ball mill, along with its primary related flotation circuit and the pebble crusher, are still in the commissioning and start-up phase.
The operation is expected to reach commercial production in the fourth quarter of this year, producing 60 000 t/d of ore over a 22-year mine life.

Key Contracts and Suppliers
Wardrop Engineering (feasibility study report, engineering design and procurement contract); ABB Switzerland (gearless mill-drive system and two dual-pinion mill drive systems); Siemens (three transformers); and British Columbia Mining – a 50:50 joint venture (JV) between Fluor Canada and Amec Americas (engineering, procurement and construction management (EPCM) services).

On Budget and on Time?
The project has been subject to delays as a result of worker shortages, winter weather and a 50% budget blowout. The copper/gold project’s costs increased about 50% from the initial estimate of C$915-million.

Contact Details for Project Information
ABB Switzerland, tel +41 4 3317.
Amec investor relations, email investors@amec.com.
Fluor Canada, tel +1 403 537 4000 or +1 604 488 2000; or fax +1 403 537 4222 or +1 604 488 0582.
Terrane Metals investor relations, tel +1 604 681 9930, fax +1 604 630 2090 or email info@terranemetals.com.
Thompson Creek Metals Company investor relations director Pamela Solly, tel +1 303 762 3520 or email psolly@tcrk.com.
Wardrop Engineering media and public relations VP Stephen Segal, tel +1 204 988 0505 or email stephen.segal@wardrop.com.