Centerra Gold to Buy Thompson Creek for $1.1 Billion

by Ian McGugan
The Globe and Mail

Centerra Gold Inc. of Toronto, a miner looking for ways to lower its risk, has struck a $1.1-billion (U.S.) deal to purchase Thompson Creek Metals Co. Inc., a Colorado-based miner seeking relief from a mountain of debt.

Centerra owns the Kumtor gold mine in Kyrgyzstan and the Boroo gold mine in Mongolia. The company has been seeking a North American counterweight to those riskier locales and Thompson Creek’s Mount Milligan copper and gold mine in British Columbia fits with its desire for safety.

“The acquisition will establish an operating base in Canada, one of the lowest-risk mining jurisdictions in the world,” Centerra chief executive officer Scott Perry said in a press release.

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