Case Study

Centerra Gold

Öksüt Madencilik A.Ş.

Location: Develi, Turkey
Commodity: Gold Dore
Project Phases: Pre-feasibility Study/Feasibility Study (PFS/FS)

Client Overview

Centerra Gold Inc., a Toronto, Ontario-based gold mining company, has a rich history of operations in the mining industry. The Öksüt Madencilik Mine in central Turkey epitomizes their commitment to excellence. Operating as an open-pit heap leach operation, it presented opportunities and challenges.

TMG’s Contributions

TMG played a pivotal role in empowering Centerra Gold with insights and expertise, fostering significant advancements in project optimization

Complete Project Management Oversight: TMG assumed comprehensive project management oversight, covering multiple critical phases of the project’s development
Feasibility Study & NI 43-101: TMG played a central role in conducting the Feasibility Study, adhering to the stringent standards set by NI 43-101. This study served as the bedrock of the project’s viability assessment.
Detailed Engineering: TMG engaged in complex engineering processes, ensuring that the project’s technical specifications and engineering plans were meticulous and precise.
Construction Execution: TMG provided expert guidance in executing construction activities and managing the complex operational aspects of the project.

Results

The collaboration between Centerra Gold and TMG yielded remarkable results, demonstrating the tangible impact of expertise and innovation in the mining industry.

Contracting Efficiency: TMG’s involvement led to revising contracting arrangements from unit rates to lump sum. This transformation directly resulted from the high level of engineering completion achieved during the project’s development.
Risk Management: Contingency and risk reserves, as outlined in the Feasibility Study budget, were effectively reduced. This prudent risk management approach ensured fiscal responsibility while maintaining project integrity.
Earthworks Optimization: TMG unlocked $7.7 million in earthworks optimizations through meticulous analysis and engineering acumen. These enhancements optimized project efficiency and cost-effectiveness.
Procurement Savings: A proactive approach to procurement resulted in substantial savings. TMG’s efforts in self-performing procurement scope yielded a notable $1.0 million in cost savings.

The Öksüt Madencilik A.Ş. project exemplified the synergy between Centerra Gold and TMG, resulting in a transformative journey of optimization and fiscal excellence. It showcased the capacity to drive innovation, streamline processes, and elevate industry standards in the mining sector. This case study underscored the pivotal role of expert project management in delivering exceptional results and reaffirmed Centerra Gold’s position as an industry leader committed to operational excellence and sustainability.