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Centerra Gold Inc to acquire Thompson Creek Metals Co for nearly $176 million

Centerra Gold Inc. agreed to acquire Thompson Creek Metals Co. for about C$175.8 million to expand in North America.

All of the Thompson Creek issued and outstanding common shares will be exchanged on the basis of 0.0988 of a Centerra common share, the companies said Tuesday in a statement. Including debt, the deal is valued at US$1.1 billion.

Thompson Creek controls the Mount Milligan mine, which is located in central British Columbia and has 2.2 billion pounds of provable and probable copper reserves and 5.7 million ounces of gold reserves, according to Thompson Creek’s website.

Bloomberg News