Thompson Creek Metals
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| Public | |
| Traded as | : TCM : TC |
| Industry | Mining |
| Founded | 2006 |
| Headquarters | Denver, CO, United States |
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Key people
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JacquesPerron,Pres,CEO,Dir PamelaL.Saxton,Exec.VP,CFO Mark Wilson,Exec.VP,CCO Wendy Cassity,VP,GC,Sec. Geoff Ramey,VP,HR Ian Berzins,VP,GM(MMM) Robert Dorfler,VP,GM(LMF) Chris Gibbs,VP,GM(EM) John Hollow,VP Tech.Ser. Greg Hurless,GM(TCM) Timothy J. Haddon,Dir Denis C. Arsenault,Dir Carol T. Banducci,Dir James L. Freer,Dir James P. Geyer,Dir Anne Giardini,Dir |
| Products | Cu, Au, Mo, |
| Revenue |
US$807 million (2014)
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US$36 million (2014)
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US$(124 million) (2014)
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| Total assets |
US$2.8 billion (2014)
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| Total equity |
US$888 million (2014)
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| Website | www |
Thompson Creek Metals Company Inc. is a full cycle mining company with acquisition, exploration, development, and operation in North America. The corporate office is located in Denver, Colorado. The company primarily produces copper, gold, and molybdenum. In the past several years, the Company has evolved from being a major primary molybdenum producer to becoming a copper and gold mining company with the construction and development of the Mount Milligan (open-pit copper-gold) mine and concentrator in British Columbia, Canada. Mount Milligan is Thompson Creek Metals principal operation and the company owns 100% of this property. The company also owns 100% of its Thompson Creek Mine (open-pit molybdenum and concentrator) in Idaho. Thompson Creek Metals owns 75% joint venture interest in two other properties, including its Endako Mine (open-pit molybdenum, concentrator and roaster) in British Columbia, and its Langeloth Metallurgical Facility (roaster) in Pennsylvania. Thompson Creek Metals has additional development projects, including the Berg property in British Columbia (exploration of copper, molybdenum, and silver).
In 2006, the privately held Thompson Creek Metals Company (USA) was acquired by Canadian-based, publicly traded mining company Blue Pearl Mining Ltd for US$575 million, in addition to other payments worth as much as US$125 million depending on the price of molybdenum. The name Blue Pearl Mining Ltd was changed to Thompson Creek Metals Company Inc. in May 2007. From October 2006 through August 2013, Thompson Creek Metals was solely a molybdenum producer.
Pursuant to the acquisition of Terrane Metals Corp. in October 2010 for about US$700 million in a combination of cash and common stock, the company diversified its assets by adding significant reserves of copper and gold. Concurrent with the acquisition of Terrane, the Company entered into a Gold Stream Arrangement with Royal Gold Inc. as a financing mechanism for the purchase of Terrane. The Gold Stream Agreement was amended twice for a total payment by Royal Gold of approximately US$781 million for the right to purchase 52.25% of the gold from Mount Milligan Mine for US$435 per ounce for the life of the mine.
Mount Milligan — Mount Milligan Mine (open-pit copper and gold mine) is a located 90 miles northwest of Prince George in Central British Columbia, Canada. Mount Milligan Mine has a concentrator with a 60,000 tpd design capacity copper flotation processing plant. The estimated life of Mount Milligan Mine is approximately 24 years (which is based on spot metal prices copper and gold). Over the life of the mine, it is estimated that it will produce an average annual of 85 million pounds of copper and 186,700 ounces of gold in 155,000 tonnes of concentrate. In 2015 through 2019, the average annual production is projected to increase at approximately 94 million pounds of copper and 285,800 ounces of gold in 165,000 tonnes of concentrate. Thompson Creek Metals Company filed an updated NI 43-101 Technical Report for Mount Milligan Mine on January 21, 2015 that confirms these projections.
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