Centerra Gold

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

Client Overview

Centerra Gold Inc., headquartered in Toronto, Ontario, is a leading gold mining company with a global portfolio of operating mines and development projects. The Mt. Milligan Mine, located in central British Columbia, operates as an open‑pit copper-gold concentrate operation and represents a key asset in Centerra’s portfolio, offering opportunities for process optimization and long-term value creation.

Client Needs

Centerra Gold engaged TMG to enhance the Mt. Milligan operation’s technical and economic performance through a structured re‑evaluation of long‑term planning and process efficiency. The objectives included:

• Managing the Pre‑Feasibility and Feasibility Study phases to align technical, cost, and schedule drivers.
• Conducting optimization studies to identify throughput and recovery improvements.
• Reducing capital and procurement costs without compromising quality or reliability.
• Improving execution readiness and compressing overall project timelines.
• Strengthening governance, cost control, and risk oversight throughout the study phase.

TMG’s mandate extended to study development, project planning, procurement strategy, and risk management to deliver a fully integrated optimization and planning solution.

TMG’s Contributions

• Process Optimization Studies: TMG conducted detailed assessments of mine and plant systems to identify opportunities for increased throughput, improved recovery, and economic gains.
• Pre‑Feasibility and Feasibility Study Management: TMG planned and executed both study phases, integrating technical, cost, and schedule components into a unified framework aligned with corporate investment milestones.
• Governance and Oversight: Provided strategic guidance on decision-making frameworks and approval processes, ensuring transparency and alignment with executive expectations.
• Execution Planning and Scheduling: Developed early-stage execution frameworks and optimized scheduling models to enable faster and more predictable project delivery.
• Risk and Document Controls: Led risk workshops and implemented structured documentation practices to ensure traceability, auditability, and study quality.

Results

The collaboration between Centerra Gold and TMG produced measurable results:

• $775,000 Study Budget Under‑Run: Achieved through disciplined cost control and efficient study execution.
• $214,600 Procurement Savings: Secured through optimized sourcing and bundling strategies.
• 16‑Week Schedule Acceleration: Enabled earlier execution readiness and improved project delivery timelines.
• CAD $70 Million Annual Gold Revenue Increase: Projected through throughput and recovery improvements.
• CAD $30.2 Million Annual Copper Revenue Increase: Delivered via process optimization initiatives.
• $446.9 Million Cumulative Value Identified: Across four optimization projects, with an average IRR of 115%.
• $2.324 Million Study Execution Under‑Run: Delivered using TMG’s Strategic Engineering Alliance model.

The Mt. Milligan Project demonstrates the value of disciplined study execution and strategic optimization. TMG’s integrated planning, risk management, and cost control approach enabled Centerra Gold to unlock substantial value and enhance operational readiness for long‑term success.