Centerra Gold Announced 2023 Output Guidance for Mount Milligan Mine

SEATTLE (Scrap Monster): Centerra Gold Inc. announced production results for the 2022 fourth quarter and the full-year. In addition, it also released 2023 production and cost guidance for the Mount Milligan Mine and an update on operations at the Oksut gold mine in Turkey.

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The gold production in Q4 2022 stood at 53,222 ounces, with Mount Milligan Mine accounting for 100% of production. The full year 2022 gold production totalled 243,868 ounces, out of which 189,177 ounces of gold were produced by the Mount Milligan Mine, whereas the Oskut Mine contributed 54,691 ounces to yearly production. Meantime, the copper production totalled 16.9 million pounds and 73.9 million pounds in Q4 and full-year 2022 respectively.

Centerra Gold expects gold production from Mount Milligan Mine to range between 160,000 and 170,000 ounces. The gold production costs per ounce are likely to be around $900 to $950. Meantime, it expects the full year copper production at 60 to 70 million pounds in 2023, said the news release.

The construction of a mercury abatement system at the Oskut Mine, at a capital cost of nearly $5 million, in order to enable processing of mercury bearing ores, is under progress and is expected to be completed by end-January this year.