Prince George, BC.- Terrane Metals , the company behind the Mount  Milligan mine project 155 km northwest of Prince George,  expects to the mine's production  to pay for the construction of the mine within 4 years. If metal prices stay at current levels, that payback time could be cut in half.

 

Speaking to the Minerals North conference in Prince George, Terrane’s  Darren O’Brien says the company is currently working on solidifying contracts with suppliers and expects to start logging the area later this year with construction of a road . Next year the company will develop the power lines, the tailings pond and start construction of the processing plant.  O’Brien says the mine is expected to start production in early 2013.

 

Mt. Milligan is expected to have a life span of 22 years, but O’Brien says there is a strong possibility the mine life will  be extended.  He says more drilling will be done this summer in the area because new data suggests there may be another significant deposit on the site.

 

In addition to the construction jobs leading to the opening of the mine, the Mount Milligan project is expected to create 400 direct permanent jobs and significant long-term economic benefits for the region.