Mt. Milligan First BC Greenfield Mine to Open in 15 Years

The Vancouver Sun reported that Mount Milligan, a $1.57-billion copper and gold mine owned by Thompson Creek Metals (TSX:TCM), officially opened on Tuesday.

As reported by The Sun:

The mine started crushing rock in August, shipped its first concentrate overseas last month and expects to be operating at full capacity by the end of the year.

“This is a milestone because it’s the first greenfield mine that we’ve opened (in B.C.) since 1998,” said Energy Minister Bill Bennett, who was at the celebration at the mine about 150 kilometres northwest of Prince George.

There have been other mines opened in the past 15 years – New Afton near Kamloops and Copper Mountain near Princeton that extract previously mined deposits. But Mount Milligan is the first in 15 years to be built on a new mineral deposit.

Mount Milligan is expected to produce 81 million pounds of copper and 195,000 ounces of gold on average annually over a 22-year life.

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