Centerra Gold Receives Permit Amendments for Mount Milligan to Continue Operations Through 2035; Meets Expedited Schedule as Per Commitment from the Province of British Columbia
Rhea-AI Summary
Centerra Gold (NYSE: CGAU) confirmed that its Mount Milligan mine in central British Columbia received amended environmental assessment approvals and all related permits to continue operations through 2035. Authorizations include a 10% plant throughput expansion starting in 2028 and increased stockpile capacity to improve plant feed flexibility. Mount Milligan was selected in January 2025 for expedited permitting by British Columbia. Centerra is advancing engineering and studies to support additional permits needed to realize a Pre-Feasibility Study mine life extension to 2045 and is pursuing a $186 million growth capital plan described as fully funded.
Positive
- Amended permits extend operations at Mount Milligan through 2035
- 10% plant throughput expansion authorized beginning in 2028
- Selection for expedited permitting by British Columbia (January 2025)
- $186 million growth capital plan described as fully funded
- Extended life expected to support >1,000 jobs and substantial regional economic benefits
Negative
- Additional permit authorizations are required to achieve the 2045 mine life outlined in the PFS
- 2045 extension remains conditional on future engineering, studies, and regulatory approvals
News Market Reaction
On the day this news was published, CGAU gained 12.21%, reflecting a significant positive market reaction. Argus tracked a peak move of +10.3% during that session. Our momentum scanner triggered 17 alerts that day, indicating notable trading interest and price volatility. This price movement added approximately $403M to the company's valuation, bringing the market cap to $3.70B at that time.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
CGAU gained 12.21%, significantly outpacing gold peers where most moves were modest: ARMN +3.54%, SA +2.29%, CNL +1.16%, IAUX +3.55%, while DRD -1.34%. This points to a stock-specific reaction to the Mount Milligan permits rather than a broad sector rotation.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Jan 06 | Earnings call notice | Neutral | +3.9% | Announcement of Q4 2025 results release and conference call timing. |
| Nov 05 | Buyback program | Positive | +1.7% | TSX acceptance of renewed normal course issuer bid for up to 20.1M shares. |
| Oct 28 | Dividend declaration | Positive | +1.7% | Quarterly dividend of C$0.07 per share payable in November 2025. |
| Oct 28 | Earnings results | Positive | +1.7% | Strong Q3 2025 results with robust cash, free cash flow and project updates. |
| Oct 21 | Technical report | Neutral | -10.5% | Filing of NI 43-101 technical report for Mount Milligan Mine. |
Most past news events saw modest positive price reactions, with one notable negative divergence after a technical report filing, suggesting generally constructive news-flow sensitivity with occasional sharp downside on technical updates.
Over the last few months, Centerra Gold has reported several shareholder-focused actions and operational updates. A notice of Q4 2025 results and conference call on Jan 6, 2026 coincided with a +3.93% move. In late October 2025, the company announced a renewed NCIB, a quarterly dividend of C$0.07, and strong Q3 2025 results with a cash balance near $562M, each followed by gains around +1.7%. A Mount Milligan technical report filing on Oct 21, 2025 preceded a -10.47% decline, showing that technical disclosures can trigger downside. Today’s permit amendments directly relate to Mount Milligan’s long-term profile, connecting back to those earlier mine-life and technical disclosures.
Market Pulse Summary
The stock surged +12.2% in the session following this news. A strong positive reaction aligns with the clearly value-accretive nature of long-term permit security and planned throughput expansion at Mount Milligan. Historical news-flow often coincided with modest gains, so a +12.21% move stands out versus prior ~1–4% reactions. Investors may have focused on the extended operating horizon through 2035 and the PFS-backed pathway to 2045, though past technical updates have shown that enthusiasm can reverse if expectations are not maintained.
Key Terms
environmental assessment regulatory
throughput technical
pre-feasibility study technical
AI-generated analysis. Not financial advice.
TORONTO, Jan. 20, 2026 (GLOBE NEWSWIRE) -- Centerra Gold Inc. (“Centerra” or the “Company”) (TSX: CG) (NYSE: CGAU) is pleased to confirm that its Mount Milligan Mine (“Mount Milligan”), located in central British Columbia, has received an amended environmental assessment and all related permits to allow for the continuation of its operations through 2035. These authorizations include a
Centerra continues to progress engineering and other studies to support future permit authorizations which will be required to achieve the recently announced mine life extension of Mount Milligan to 2045 as outlined in a Pre-Feasibility Study. For additional details, refer to the news release published on September 11, 2025 titled “Centerra Gold’s Mount Milligan PFS Outlines Mine Life to 2045, Delivering Growth with a Fully Funded, Disciplined
President and CEO, Paul Tomory, commented, “Mount Milligan is the cornerstone of Centerra’s organic gold growth strategy in British Columbia. We are encouraged by the results of the process that has just concluded and believe that when government, First Nations, and industry are mutually committed to responsible resource development, we can achieve great things. The extended life of mine is expected to provide consistent employment to more than 1,000 workers and increase business opportunities to First Nations, surrounding communities, and the province, representing a significant economic driver for northern communities in British Columbia.”
The Honourable, David Eby, Premier of British Columbia, commented “The Mount Milligan mine expansion will ensure hundreds of good, family-supporting jobs are secure for years to come, while generating hundreds of millions of dollars in additional economic benefits for the region and beyond. Our government expedited this priority project by creating efficiencies without compromising our high environmental and safety standards or our commitment to consultation with First Nations. We’re going to keep that momentum going as we continue to advance major projects and make B.C. the economic engine of the new Canadian economy.”
About Centerra Gold
Centerra Gold Inc. is a Canadian-based gold mining company focused on operating, developing, exploring and acquiring gold and copper properties in North America, Türkiye, and other markets worldwide. Centerra operates two mines: the Mount Milligan Mine in British Columbia, Canada, and the Öksüt Mine in Türkiye. The Company also owns the Kemess Project in British Columbia, Canada, the Goldfield Project in Nevada, United States, and owns and operates the Molybdenum Business Unit in the United States and Canada. Centerra’s shares trade on the Toronto Stock Exchange (“TSX”) under the symbol CG and on the New York Stock Exchange (“NYSE”) under the symbol CGAU. The Company is based in Toronto, Ontario, Canada.
For more information:
Lisa Wilkinson
Vice President, Investor Relations & Corporate Communications
(416) 204-3780
Lisa.Wilkinson@centerragold.com
Additional information on Centerra is available on the Company’s website at www.centerragold.com, on SEDAR+ at www.sedarplus.ca and EDGAR at www.sec.gov/edgar.
FAQ
What permits did Centerra (CGAU) secure for Mount Milligan on January 21, 2026?
When will the Mount Milligan plant throughput expansion for CGAU begin?
Does the 2035 permit confirm the Mount Milligan mine life to 2045 for CGAU?
How does the permit update affect employment and local economy for Mount Milligan (CGAU)?
Was Mount Milligan part of British Columbia's expedited permitting program for CGAU?
What capital plan supports Mount Milligan’s future expansion for Centerra (CGAU)?
