Centerra Gold Reports Higher Q2 Profit, Raises Oksut Gold Output Guidance
Mining News | 2026-07-29 05:40:48
Copper production reached 13.1 million pounds during the quarter, and the company reaffirmed its full-year guidance of 50-60 million pounds.
By Paul Ploumis
SEATTLE (Scrap Monster): Centerra Gold announced solid results for the second quarter of 2026. The company reported stronger operating performance, higher earnings, and an increased production outlook for its Öksüt mine. It also expanded its share repurchase program to $200 million for the full year.
During the quarter, Centerra produced 70,727 ounces of gold, including 38,175 ounces from the Mount Milligan mine and 32,552 ounces from the Öksüt operation. The robust first-half performance at Öksüt prompted the company to raise its 2026 gold production guidance for the mine to 120,000-135,000 ounces, up from the earlier estimate of 110,000-125,000 ounces. As a result, Centerra increased its consolidated annual gold production forecast to 260,000-290,000 ounces.
Copper production reached 13.1 million pounds during the quarter, and the company reaffirmed its full-year guidance of 50-60 million pounds.
Financial performance also improved, with net earnings rising to $72.1 million, or $0.37 per share, while adjusted net earnings stood at $79.3 million, or $0.40 per share. Gold sales totaled 72,114 ounces at an average realized price of $3,437 per ounce, while copper sales reached 13.4 million pounds at an average realized price of $5.30 per pound.
Centerra generated $66.2 million in operating cash flow during the quarter after working capital changes and taxes. The miner repurchased nearly 2.9 million shares worth $49.7 million during the second quarter.
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What is the biggest takeaway from Centerra Gold's Q2 2026 results?
Frequently Asked Questions
- Why did Centerra Gold raise its 2026 production guidance?
Strong first-half performance at the Öksüt mine prompted the company to increase both mine-specific and consolidated gold production forecasts.
- What was Centerra's Q2 2026 gold production?
The company produced 70,727 ounces of gold, including 38,175 ounces from Mount Milligan and 32,552 ounces from Öksüt.
- How did Centerra perform financially in the second quarter?
Net earnings increased to $72.1 million ($0.37 per share), while operating cash flow totaled $66.2 million.
