Mount Milligan Mine is a large-scale open-pit copper-gold mine in British Columbia, Canada. As of 2025, it remains 100% owned and operated by Centerra Gold Inc. The mine has become a cornerstone asset for the company, with a strategic focus on productivity, optimization, and sustained output (Operations – Mount Milligan – Centerra Gold Inc., n.d.).
In early 2024, Centerra Gold announced a formal extension of Mount Milligan’s life of mine (LOM) through a new agreement with Royal Gold Inc. This immediately extended operations until at least 2035, with further extensions likely, contingent on ongoing studies and permitting. By February 2025, the LOM was further pushed to 2036 following updates to reserves and improvements in tailings management (Centerra Gold Announces Mount Milligan Mine Life Extension and Additional Agreement with Royal Gold | Financial Post, n.d.).
A comprehensive optimization program began in late 2023, targeting safety, operational efficiency, and cost improvements. Achievements include lower maintenance and milling costs, increased equipment reliability, and enhanced gold recovery despite lower head grades (Inc, 2025).
The mine’s reserves and resources have remained robust due to continual infill drilling and resource upgrades, with a total mineral resource (including reserves) of 510Mt as of early 2024 (Operations – Mount Milligan – Centerra Gold Inc., n.d.). Full-year 2024 production met revised targets, with gold output just above 167,000oz and copper at 54.3Mlb. The lower copper and gold grades encountered in 2024 were offset by process and efficiency improvements.
Mount Milligan’s trajectory after 2023 shows a sustained and potentially growing role in Canadian copper-gold mining, driven by reserve expansions, operational excellence, community engagement, and an adaptable, forward-looking strategy.
Reference
Centerra Gold Announces Mount Milligan Mine Life Extension and Additional Agreement with Royal Gold | Financial Post. (n.d.). Retrieved July 23, 2025, from https://financialpost.com/globe-newswire/centerra-gold-announces-mount-milligan-mine-life-extension-and-additional-agreement-with-royal-gold
Inc, C. G. (2025, February 20). Centerra Gold Reports Fourth Quarter and Full Year 2024 Results and 2025 Outlook; Strong Cash Flow from Operating Activities and $625 Million in Cash and Cash Equivalents. GlobeNewswire News Room. https://www.globenewswire.com/news-release/2025/02/20/3030137/0/en/Centerra-Gold-Reports-Fourth-Quarter-and-Full-Year-2024-Results-and-2025-Outlook-Strong-Cash-Flow-from-Operating-Activities-and-625-Million-in-Cash-and-Cash-Equivalents.html
Operations—Mount Milligan—Centerra Gold Inc. (n.d.). Retrieved July 23, 2025, from https://www.centerragold.com/operations/mount-milligan/default.aspx
