Centerra Cuts Mount Milligan Cost Guidance, Targets Thompson Creek for 2027

Centerra Gold Inc. lowered its 2026 cost guidance for Mount Milligan and said the Thompson Creek project remains on schedule for first molybdenum production by mid-2027.

The company set Mount Milligan’s 2026 all-in sustaining cost (AISC) guidance at $1,100 to $1,200 per ounce. Centerra attributed the reduction to strong copper by-product credits.

At Thompson Creek, estimated total capital costs are $425 million to $450 million. Infrastructure refurbishment was 75% complete by late October.

Centerra expects to achieve its full-year gold and copper production targets. The company’s 2026 AISC guidance for Oksut remains $1,850 to $1,950 per ounce.