BRITISH COLUMBIA – Terrane Metals has finalized contractual terms for the procurement of long lead-time processing equipment for its 100%-owned Mt. Milligan gold-copper project near Prince George. Purchase orders placed for process plant and power supply equipment represent approximately 12% of the total initial capital cost.
Metso will supply the primary crusher, semi-autogenous grinding (SAG) mill, two ball mills and other associated process plant equipment. ABB Switzerland will supply the drive motors for the SAG mill and ball mills. Delivery is scheduled for Q4 2011. Siemens Canada will supply the three main transformers for the mine site substation with delivery scheduled for Q3 2011.
Mt. Milligan will be a conventional truck-shovel open pit mine with a 60,000 t/d copper flotation mill. The first six years of the 22-year mine plan are designed to accelerate the extraction of near-surface and higher-grade gold reserves with production forecast to average 262,100 oz of gold per year at a cash cost, net of a copper credit, of negative US$8 per oz. Mt Milligan will provide about 400 direct permanent jobs and significant long-term economic benefits for the region.
Additional information is available at www.TerraneMetals.com.