Centerra Gold
A Canadian precious- and base-metals mining company with gold-copper operations in Canada and gold production in Turkey.
Last updated August 22, 2026
AI crawler reads
No AI crawler has read this profile since Oct 28, 2026.
Overview
Centerra Gold Inc. is a Canadian mining company headquartered in Toronto. Its business is focused on the ownership, development, and operation of mines and mineral-processing assets, with gold as its principal product and copper and molybdenum as additional commodities. The company was created from the separation of Cameco Corporation's gold interests and initially centered its business on the Kumtor gold mine in the Kyrgyz Republic. It later expanded through the acquisition of the Boroo gold mine in Mongolia, the Thompson Creek Metals business, and AuRico Metals. Centerra's current operating portfolio described in the reference material is anchored by the Mount Milligan copper-gold mine in British Columbia, Canada, and the Öksüt gold mine in Turkey. Mount Milligan is an open-pit operation whose ore is processed into copper-gold concentrate for shipment through Vancouver. Öksüt is an open-pit gold mine in Kayseri Province that uses heap leaching and electrowinning to produce doré bars. Through its Thompson Creek Metals subsidiary, Centerra also owns the Thompson Creek molybdenum mine in Idaho, the Endako molybdenum mine in British Columbia, and the Langeloth metallurgical facility in Pennsylvania. The two molybdenum mines have been inactive or on care and maintenance because of adverse commodity economics, while Langeloth has processed third-party molybdenum concentrate. The company developed its international profile through assets in countries where mining regulation and political conditions were evolving. Kumtor was economically important to Kyrgyzstan and became the focus of repeated disputes involving environmental effects, workplace and operational risks, taxes, ownership, and national sovereignty. Centerra ultimately exited Kyrgyzstan in 2022 under a settlement that transferred the Kyrgyz subsidiaries and Kumtor-related interests to the Kyrgyz government. The company also sold its Mongolian assets in 2018 after Boroo reached the end of its principal extraction life and the Gatsuurt project remained subject to regulatory and economic uncertainty. Centerra's portfolio has therefore shifted from a predominantly Central Asian gold producer to a North American and Turkish mining group with exposure to gold, copper, and molybdenum. Its history includes major acquisitions, mine-development decisions, operational interruptions, disputes with governments, and restructuring intended to diversify assets and reduce dependence on a single mine. Centerra Gold is publicly traded on the Toronto Stock Exchange and the New York Stock Exchange under the symbol CG.
History
Centerra Gold originated in Cameco Corporation's restructuring of its gold interests. Cameco established Kumtor Mountain Holdings Corporation in 2002, and the subsidiary was renamed Centerra Gold in December 2003. Under an investment and restructuring agreement effective in June 2004, interests in the Kumtor project held by Cameco and Kyrgyzaltyn, the Kyrgyz state-owned mining company, were transferred into Centerra. Certain obligations to international development lenders were exchanged for an equity interest. Centerra then completed an initial public offering that sold 27.3 percent of the company and raised US$253 million at C$15.50 per share. Cameco and Kyrgyzaltyn retained substantial holdings after the offering. At the same time, Centerra obtained full ownership of the Boroo gold mine in Mongolia through its acquisition of AGR Limited. During its first phase, Centerra was strongly dependent on Kumtor. The high-altitude open-pit mine, located in the Tian Shan mountains at more than 4,000 metres above sea level, became one of Kyrgyzstan's most economically significant industrial assets. It also generated recurring disputes. Political movements and successive governments revisited the investment framework after the 2005 and 2010 Kyrgyz revolutions. Environmental concerns included the excavation and movement of glacial material and the management of mine waste. Operational interruptions included work stoppages, blockades, and pit-wall failures in 2006 and 2012. The 2012 failure, associated with accumulated ice and winter conditions, interrupted production for roughly half a year. Boroo gave Centerra a second Central Asian operating base. It entered commercial production in 2004 and produced gold until mining ended in 2014; processing of remaining material continued afterward, and the site entered care and maintenance in 2015. Mongolia's changing mining taxes and environmental rules affected Boroo and the proposed Gatsuurt development. Centerra eventually sold both its Mongolian holdings in 2018. Seeking greater commodity and geographic diversification, Centerra acquired Thompson Creek Metals in 2016. The transaction gave it control of Mount Milligan in British Columbia, Canada, as well as the Thompson Creek and Endako molybdenum mines and the Langeloth processing facility. The transaction involved assuming or refinancing substantial debt and diluted the interest of Kyrgyzaltyn. Mount Milligan became a central operating asset, producing copper-gold concentrate rather than doré on site. The Thompson Creek and Endako mines, however, remained inactive because low molybdenum prices had made them uneconomic. Centerra also advanced Öksüt in Turkey. It obtained an interest in the project in 2009 and full ownership in 2012. After feasibility work, the company approved construction in 2018, and production began in 2020. Öksüt uses open-pit mining, heap leaching, and electrowinning to produce gold doré. In 2015, Scott Perry, previously associated with AuRico Gold, became Centerra's chief executive. The company acquired AuRico Metals in 2018, adding the Kemess facility and royalty interests. In Kyrgyzstan, political instability following the 2020 election crisis preceded legislation allowing temporary state operation of Kumtor and a reported US$3 billion environmental-law fine against the company. Centerra placed its Kyrgyz subsidiaries into bankruptcy protection and initiated arbitration under United Nations trade-law procedures. The dispute ended in 2022 with an agreement under which Centerra relinquished its Kyrgyz interests and the Kyrgyz government obtained full ownership of the local subsidiaries. This marked the end of Centerra's direct operation in Kyrgyzstan and completed a major transformation of its asset base.
- 2022
Kyrgyzstan exit
[1]Centerra and the Kyrgyz government reached an agreement transferring the Kyrgyz subsidiaries and ending Centerra's ownership of Kumtor-related interests.
- 2020
Öksüt begins production
[1]The Turkish open-pit gold mine commenced production.
- 2018
Öksüt construction approved
[1]Centerra made the investment decision to construct the Öksüt gold mine in Turkey.
- 2018
AuRico Metals acquired
[1]The transaction added the Kemess facility and two net smelter return interests.
- 2016
Thompson Creek Metals acquired
[1]The acquisition expanded Centerra into copper-gold mining, molybdenum mining, and metallurgical processing.
- 2015
New chief executive appointed
[1]Scott Perry was appointed chief executive of Centerra Gold.
- 2012
Kumtor pit-wall failure
[1]A pit-wall failure interrupted Kumtor operations for approximately half a year.
- 2004
IPO and Boroo acquisition
[1]Centerra completed its initial public offering and acquired full ownership of Mongolia's Boroo gold mine through AGR Limited.
- 2003
Centerra Gold name adopted
[1]Kumtor Mountain Holdings Corporation was renamed Centerra Gold in December.
- 2002
Cameco establishes Kumtor Mountain Holdings
[1]Cameco created the subsidiary that would become the corporate predecessor of Centerra Gold.
Products and positioning
An internationally diversified mining group combining precious-metal production with copper and molybdenum exposure, supported by mine development, mineral processing, and a portfolio approach to geopolitical and commodity risk.
Gold mining · 2020
Öksüt Gold Mine
An open-pit gold operation in Kayseri Province, Turkey. Ore is treated by heap leaching and electrowinning, producing gold doré bars. Centerra obtained full ownership in 2012, approved construction in 2018, and began production in 2020.
Copper-gold mining · 2014
Mount Milligan Mine
An open-pit copper-gold mine in northern British Columbia, between Fort St. James and Mackenzie. The operation processes ore into copper-gold concentrate that is transported for export through Vancouver. Centerra gained control when it acquired Thompson Creek Metals in 2016.
Molybdenum mining
Thompson Creek Mine
A molybdenum mine near Challis, Idaho, acquired through Thompson Creek Metals. The mine entered care and maintenance before Centerra's acquisition because low molybdenum prices made production uneconomic.
Molybdenum mining
Endako Mine
A molybdenum mine near Fraser Lake in British Columbia, operated as a joint venture with Sojitz Corporation holding a 25 percent interest. It entered care and maintenance because of weak molybdenum economics.
Mineral processing
Langeloth Metallurgical Facility
A Pennsylvania processing facility obtained through Thompson Creek Metals. It historically processed concentrate from the Thompson Creek and Endako mines and, under Centerra, processed molybdenum concentrate supplied by third parties.
Gold mining · 1997
Kumtor Gold Mine
A high-altitude open-pit gold mine in the Kyrgyz Republic that was formerly Centerra's principal asset. It produced doré on site and was associated with environmental, safety, operational, and political controversies. Centerra exited the asset in 2022.
Gold mining · 2004
Boroo Gold Mine
A gold mine in Mongolia's Selenge Province, owned through AGR Limited from 2004 until Centerra sold its Mongolian holdings. Mining ended in 2014, while processing of remaining material continued into 2015.
Controversies
2021
Kumtor nationalization and environmental dispute
Following political upheaval in Kyrgyzstan, legislation enabled temporary state operation of Kumtor, while a Kyrgyz court reportedly imposed a US$3 billion environmental-law fine. Centerra disputed the actions, placed its Kyrgyz subsidiaries into bankruptcy protection, and commenced international arbitration. The dispute concluded with Centerra's exit from Kyrgyzstan in 2022.
2021
Kyrgyzstan launches legal proceedings against Centerra Gold
Kyrgyzstan launched legal proceedings against Centerra Gold over alleged cyber-security and employee-rights violations at Kumtor Gold Mine. The supplied report does not state a filing date or the outcome.
2021
Centerra launches arbitration suit against Kyrgyz Republic
Centerra said it had launched an international arbitration suit against the Kyrgyz Republic amid the dispute over control of the Kumtor mine.
Brand decisions
2022
Exit KyrgyzstanStrategyBackground
The Kumtor dispute escalated after state intervention, environmental allegations, court action, and arbitration proceedings.
Action taken
Centerra reached an agreement transferring its Kyrgyz subsidiaries and ending its ownership of Kumtor-related interests.
Aftermath
The Kyrgyz government obtained full ownership of the local subsidiaries, and Centerra no longer operated in Kyrgyzstan.
2018
Approve Öksüt mine constructionProduct launchBackground
Exploration and feasibility work indicated that the Turkish Öksüt project was technically and economically viable.
Action taken
Centerra approved construction of the Öksüt gold mine.
Aftermath
The mine entered production in 2020 and became one of Centerra's principal operating assets.
2018
Acquire AuRico MetalsM&ABackground
Centerra continued expanding its portfolio through assets associated with the former AuRico business.
Action taken
It acquired AuRico Metals for approximately C$310 million in cash.
Aftermath
The company added the Kemess facility and two net smelter return interests.
Purchase price. C$310 million (2018)
2018
Sell Mongolian assetsStrategyBackground
Boroo had reached the end of its main extraction life, while Gatsuurt faced regulatory and economic uncertainty.
Action taken
Centerra sold the Boroo facility and Gatsuurt project to OZD ASIA PTE Ltd.
Aftermath
Centerra ended its direct ownership of the Mongolian portfolio.
Sale consideration. US$35 million (2018)
2016
Acquire Thompson Creek MetalsM&ABackground
Centerra sought to diversify away from dependence on Kumtor and add North American operating and processing assets.
Action taken
It acquired Thompson Creek Metals in a transaction valued at approximately US$1.1 billion, assuming debt and issuing Centerra equity to Thompson Creek shareholders.
Aftermath
Centerra gained Mount Milligan, the Thompson Creek and Endako molybdenum mines, and the Langeloth facility; the Kyrgyzaltyn interest was diluted.
Transaction value. US$1.1 billion (2016)
Recent events
- 2018
Centerra acquires AuRico Metals[1]
M&A
Centerra agreed to acquire AuRico Metals for approximately C$310 million in cash, adding the Kemess project and two net smelter return interests.
- 2018
Centerra sells its Mongolian holdings[1]
M&A
The company sold the Boroo facility and Gatsuurt project to OZD ASIA PTE Ltd for US$35 million.
- 2016
Centerra completes acquisition of Thompson Creek Metals[1]
M&A
Centerra acquired the indebted molybdenum producer Thompson Creek Metals in a transaction valued at approximately US$1.1 billion, gaining Mount Milligan, the Thompson Creek and Endako mines, and the Langeloth facility.
Sources5 sources
- 1Centerra Golden.wikipedia.org
- 2Kyrgyzstan launches legal proceedings against Centerra Goldakipress.com
- 3Kyrgyzstan launches legal proceedings against Centerra Goldmining.com
- 4Centerra launches arbitration suit against Kyrgyz Republicwinnipegfreepress.com
- 5Centerra Gold announces commercial production at Öksütglobalminingreview.com
Cite this profile: Cite the canonical profile. /brand-wiki/centerra-gold · Editorial policy · How profiles are compiled