Metals and Mining
Company Overview of Terrane Metals Corp.
Terrane Metals Corp. engages in the exploration and development of mineral properties in Canada. It primary holds interests in the Mt. Milligan copper-gold project located in north-central British Columbia; and the Berg copper-molybdenum-silver project located in central British Columbia. The company was founded in 2006 and is headquartered in Vancouver, Canada. As of October 20, 2010, Terrane Metals Corp. operates as a subsidiary of Thompson Creek Metals Company Inc.
999 West Hastings Street
Vancouver, BC V6C 2W2
Founded in 2006
Key Executives for Terrane Metals Corp.
Senior Vice President of Project Development
Corporate Secretary and Controller
Vice President of Exploration
Vice President of Engineering
Compensation as of Fiscal Year 2016.
Terrane Metals Corp. Key Developments
Terrane Metals Corp. Enters into Copper Concentrate Sales Agreement with Louis Dreyfus Company Metals Suisse SA
May 11 16
Terrane Metals Corp. entered into a copper concentrate sales agreement with Louis Dreyfus Company Metals Suisse SA (LDCM), whereby Terrane agreed to sell to LDCM concentrate produced at Mount Milligan Mine. The term of the agreement commences on May 6, 2016 and ends on December 31, 2019, unless earlier terminated pursuant to the terms of the agreement. Pursuant to the agreement, for each of calendar years 2017, 2018 and 2019, LDCM agreed to purchase 40,000 dry metric tons of concentrate from Terrane. Payment for the concentrate will be based on the agreed copper, gold and silver content of the parcels delivered to LDCM pursuant to the terms of the agreement, less certain refining and treatment charges and certain other deductions, if applicable. Pricing generally will be determined by reference to specified published reference prices during the applicable quotation periods set forth in the agreement. The copper treatment and refining charges will be negotiated in good faith and agreed by the parties for each contract year based on terms generally acknowledged as industry benchmark terms. The gold and silver refining charges are as specified in the agreement. LDCM will make a 90% provisional payment for concentrate promptly upon shipment from Terrane's port of loading. The provisional payment will be based on Terrane's weights and assays, and on metals pricing, at the time of shipment. Final settlement will be made within three business days after Terrane has submitted its final invoice to LDCM after all final prices and weights and assays have been determined in accordance with the agreement. Pursuant to the terms and conditions set forth in the agreement, Terrane will also have the option to request that LDCM make a 90% advance payment for an upcoming shipment. The agreement may be terminated by either party upon material breach of the agreement by the other party, subject to a 60-day cure period. The company has agreed to unconditionally guarantee Terrane's performance under the agreement.
Bcgold Corp. Sells Mt. Milligan Area Property to Terrane Metals Corp
Jul 13 15
BCGold Corp. announced that the company has sold its 100% owned Rainbow Property, situated 3 kilometres south of Thompson Creek Metals Company Inc.'s Mt. Milligan copper-gold mine, to Terrane Metals Corp., a 100% owned subsidiary of Thompson Creek Metals Company Inc. BCGold has sold the 926 hectare Rainbow Property to Terrane Metals Corp. for $35,000. The company retains a 2.5% NSR on the Rainbow Property, which may be purchased by Terrane Metals Corp. at any time for $250,000.
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