Case Study

Centerra Gold

Mt. Milligan

Location: Prince George, British Columbia
Commodity: Copper/Gold Concentrate
Project Phases: Pre-feasibility Study/Feasibility Study (PFS/FS)

Client Overview

Centerra Gold Inc., a prominent gold mining company headquartered in Toronto, Ontario, boasts a rich industry excellence history. The Mt. Milligan Mine, nestled in the heart of central British Columbia, served as a testament to their commitment to innovation and operational excellence. Operating as an open-pit concentrate operation, it presented both 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:

Process Optimization Studies: TMG spearheaded comprehensive Process Optimization Studies that delved into critical aspects of the Mt. Milligan Mine project. These studies were instrumental in fine-tuning project strategies, enhancing operational efficiency, and maximizing economic viability.
Management of Pre-feasibility and Feasibility Studies: TMG assumed leadership in managing the Pre-feasibility Study (PFS) and the subsequent Feasibility Study (FS). These rigorous assessments were the cornerstone of the project’s development, ensuring it adhered to industry standards and best practices.
Corporate Governance Guidance: TMG provided valuable guidance in corporate governance, a facet critical to the project’s integrity and long-term sustainability. This guidance ensured that Centerra Gold maintained the highest ethical and transparent business practices standards.

Results

The collaboration between Centerra Gold and TMG yielded remarkable results, validating the impact of expertise and innovation in the mining industry:

Fiscal Efficiency: The project’s study phase demonstrated exceptional fiscal responsibility, resulting in a notable $775,000 under-run on the study budget. Additionally, procurement savings totaling $214,600 exemplified the commitment to optimizing costs without compromising quality.
Accelerated Execution: TMG’s contributions led to an impressive reduction of 16 weeks in the project’s execution schedule. This acceleration was a testament to the streamlined processes and enhanced project management practices implemented during the study phase.
Revenue Enhancement: The optimized project design was projected to yield substantial financial benefits. It was expected to increase annual gold revenue by an impressive CAD 70.0 million, marking a significant contribution to the project’s economic viability. Furthermore, yearly copper revenue was forecasted to rise by CAD 30.2 million, further solidifying the project’s fiscal potential.

The Mt. Milligan 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 corporate governance 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.