The Australian Mining Review

Centerra in friendly takeover of AuRico Metals


CENTERRA Gold has bought out fellow gold developer AuRico Metals for C$310 million.

AuRico is developing the Kemess brownfield­s gold project in British Columbia, and owns a royalty portfolio that includes a 1.5 per cent net smelter return (“NSR”) royalty on the Young-Davidson gold mine in Ontario and a 2 per cent NSR royalty on the Fostervill­e mine in Australia.

Together with its Kumtor mine in the Kyrgyz Republic and the Mount Milligan mine in British Columbia, Centerra expected to be firmly establishe­d as a low-cost gold producer with a geographic­ally diversifie­d footprint.

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