Warning: call_user_func_array() expects parameter 1 to be a valid callback, class 'AGPressGraph\manipulator' does not have a method 'httpsCanonicalURL' in /home/cfnrfm/public_html/wp-includes/class-wp-hook.php on line 286
Latest Headlines
Home / News / Centerra to buy Thompson Creek Metals, but Endako to stay shuttered for now

Centerra to buy Thompson Creek Metals, but Endako to stay shuttered for now

A Canadian mining company has reached a deal to buy an American firm that owns two northern BC mines.

Centerra Gold announced Tuesday that it will buy Denver-based Thompson Creek Metals.

Under the $1.1 billion deal, Centerra will take on Thompson Creek’s nearly $900 million debt.

Thompson Creek’s main asset is the Mount Milligan gold and copper mine located between Mackenzie and Fort St. James.

It also has a 75% stake in the Endako molybdenum mine near Fraser Lake which stopped production at the end of 2014 due to low moly prices.

Centerra says it plans to keep the Endako mine, which was shuttered last July, on care and maintenance.

About Bill Fee

Leave a Reply

%d bloggers like this: