TSX-listed Centerra Gold has achieved commercial production at its Öksüt mine, in Turkey, four months after its first gold pour.
With Öksüt delivered on time, Centerra now has three producing mines, with the others being Kumtor, in Kyrgyz Republic, and Mount Milligan, in British Columbia.
“Commercial production at Öksüt marks a major milestone for the company. Öksüt was delivered on time and under budget,” said CEO Scott Perry.
The mine is expected to process 26.1-million tonnes of ore at an average grade of 1.4 g/t gold over eight years, producing 895 000 oz of gold at an average all-in sustaining cost of $490/oz sold.
Centerra had a budget of $221-million for the mine.