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Centerra Gold hedges 51% copper output from Mount Milligan mine

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Centerra Gold hedges 51% copper output from Mount Milligan mine

Centerra Gold Inc. has hedged about 51% of its expected copper production in 2017 from its Mount Milligan copper-gold mine in British Columbia, net of copper streaming arrangements with Royal Gold Inc.

The company also entered into zero-cost collars for 8.3 million pounds of copper with settlements dates from February to December at a minimum price of US$2.25 per pound and a maximum price of US$3.21 per pound of copper.

Centerra on Jan. 24 said hedging the copper output will increase cash flow certainty for the year, adding that it has no plans to hedge any of the gold production from Mount Milligan.