In October 2009 Terrane Metals announced the completion of an Updated Feasibility Study on the Mt. Milligan project, prepared by Wardrop Engineering Inc. The Updated Feasibility Study Report discusses the scope, design features and economic viability of the Mt. Milligan Project in north-central British Columbia. The Project is based on a conventional truck-shovel open pit mine and 60,000 tonnes per day (t/d) copper flotation concentrator to be built over a 30-month period at a capital cost of $915 million. Commercial production is scheduled to commence Q1 2013.
The Project is located in close proximity to existing infrastructure. A skilled work force, railroad headings and low-cost power are all available near the Project site. There are no topographic constraints to mine development and the Project is accessible by road. Off-site infrastructure-related costs account for less than 4.6% of the total capital cost.
Innovative design and placement of the Tailing Storage Facility (TSF) will minimize the Project footprint, eliminate conventional waste rock storage facilities and provide effective and safe closure. All major environmental approvals and permits are in hand. Extensive local community and First Nations consultation programs are ongoing.