Indicate by check mark whether the registrant files or will file annual
reports under cover of Form 20-F or Form 40-F.
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
EXHIBIT 99.1
CENTERRA GOLD INC.
REPORT PURSUANT TO THE FIGHTING AGAINST FORCED
LABOUR AND CHILD LABOUR IN SUPPLY CHAINS ACT (CANADA) FOR THE YEAR 2025
This report (the “Report”)
is jointly produced by Centerra Gold Inc., a corporation formed under the laws of Canada, and Thompson
Creek Metals Company Inc., a corporation formed under the laws of British
Columbia (collectively “Centerra”, the “Corporation”,
“our”, “us” or “we”) for the financial year starting
January 1, 2025 and ending December 31, 2025 (the “Reporting Period”) and sets
out the steps taken by Centerra to prevent and reduce the risk that forced labour or child labour is used at any step of the production
of goods in Canada or elsewhere or of goods imported into Canada by the Corporation. For the purposes
of the Act (as defined below), Thompson Creek Metals Company Inc. is an entity controlled by Centerra
Gold Inc.
This Report constitutes
the third report prepared by the Corporation pursuant to Canada’s Fighting Against Forced
Labour and Child Labour in Supply Chains Act (the “Act”).
| 2. | Steps to prevent and reduce risks of forced labour and child labour |
We consider the respect of human rights to be
a fundamental corporate responsibility and a value governing all our activities.
We place the highest importance on respecting human rights while conducting
our business activities everywhere we operate. We expect the
same of our business partners.
In general terms, we took the following steps
during the Reporting Period (unless otherwise indicated) to prevent and reduce the risk of forced
labour or child labour in our business and supply chain:
| · | in 2022, we conducted a human rights due diligence
exercise at Centerra's operating mines and continue to monitor
the findings on an annual basis; |
| · | received an Independent Limited Assurance Letter
attesting to the Company’s conformance with the World
Gold Council’s Responsible Gold Mining Principles (the “RGMPs”); |
| · | in 2023, we conducted high-level due diligence
on all Centerra’s suppliers through a third-party service provider, which included screening for sanctioned
entities, watchlists, politically exposed persons, and flagging
modern slavery risks. In 2025, we updated this due diligence exercise for new suppliers that were engaged by us during the Reporting
Period; |
| · | completed a benchmarking exercise comparing Centerra’s
approach to forced labour and child labour risk management against companies in our peer group and recognized industry practices; |
| · | implemented a third-party tracking system to support
procurement and supply chain oversight by improving visibility into supplier information and risk
indicators, which has allowed us to monitor, document, and follow-up
(if required) on forced labour and child labour risks; and |
| · | continued
to conduct training throughout the Corporation, including employees working in procurement roles
on forced labour, child labour and our Code of Ethics. |
Details of the above actions
are set out in this Report.
| 3. | Structure, activities
and supply chains |
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 Gold Inc. shares are listed on the Toronto Stock Exchange and the
New York Stock Exchange.
We have two operating
mining properties: the Mount Milligan Mine in British Columbia,
Canada which is owned and operated by Thompson Creek Metals Company Inc., and the Öksüt Mine in Türkiye. We also own the
Kemess Project in British Columbia, Canada and the Goldfield Project in Nevada, United States.
We also own a molybdenum business, which includes
the Langeloth metallurgical processing facility, operating in Pennsylvania, USA, and two primary
molybdenum properties: the Thompson Creek Mine in Idaho, United States and the Endako Mine (we own
a 75% interest) in British Columbia, Canada. The Endako Mine is currently on care and maintenance.
We have mining exploration
interests in Canada, the United States and Türkiye, which are owned (directly or indirectly) by Centerra, and properties
in Canada, Türkiye and the United States in which we are earning interests pursuant to option
agreements with the respective property owners.
Our principal products are gold, copper, and
to a lesser extent, molybdenum and ferromolybdenum products. Our Öksüt Mine produces gold doré bars. Our Mount Milligan
Mine produces a copper-gold concentrate, and our Langeloth Metallurgical Processing Facility provides tolling roasting
services for customers and purchases molybdenum concentrates from third parties to convert to upgraded
products.
All gold doré produced at the Öksüt
Mine is processed at refining facilities within Türkiye. Copper/gold concentrate produced by
the Mount Milligan Mine in Canada is sold to various smelters and off-take purchasers globally. The
Langeloth Metallurgical Processing Facility primarily produces molybdic oxide (also known as roasted molybdenum concentrate) and ferromolybdenum
which are then sold into the metallurgical and chemical markets. During the Reporting Period, the
Öksüt Mine produced 127,734 ounces of gold, the Mount Milligan Mine produced 147,581 ounces of gold and 50.5 million pounds
of copper, and the Langeloth Metallurgical Processing Facility roasted 14.2 million pounds of molybdenum.
Centerra conducted business with approximately 2,700 suppliers during
the Reporting Period.
Our supply chain includes suppliers of traded
and non-traded goods and services, and maritime services (inbound and outbound). Our relationships
with suppliers vary from one-off engagements through to long-term contractual agreements. We source
a diverse range of goods and services through our global supply chain. The primary categories of goods and services purchased include:
support services; equipment consumables, tools and spare parts; utilities;
industrial engineering; chemicals; construction and materials; and general industrials. During the
Reporting Period, over ninety-nine percent of our suppliers originated from either the United States,
Canada, Türkiye, the United Kingdom, Australia, the Netherlands, South Africa, Germany, Spain or Luxembourg.
| 4. | Policies, Governance and Due Diligence processes |
Centerra is committed
to embedding human rights considerations into its policies, governance framework and decision
making. As such, Centerra sees the management of environmental, social and governance (“ESG”) risks and
opportunities
as an inherent part of Centerra’s success. Centerra regularly tracks the potential
sustainability-related risks that are shaping its operating environment and develops
and
implements strategies to progress its performance
across sustainability areas. Centerra Gold Inc.’s board of directors (the “Board of Directors”) has delegated
to its Technical and Corporate Responsibility Committee oversight of polices, practices
and systems for effective management of corporate responsibility
matters, including safety, health, environment and social performance. Centerra Gold Inc.’s
Audit Committee monitors and ensures compliance with the Corporation’s
Code of Ethics.
Centerra reports annually on its corporate
social responsibility performance and its ESG practices in its Environmental, Social and Governance
Report, which is prepared in accordance with the Sustainability Accounting Standards Board Metals
& Mining Industry Standard. Our Environmental, Social and Governance Report includes our plans and goals for the following year,
as well as yearly sustainability performance. The current Environmental, Social and Governance Report can be found on our website at:
https://sustainability.centerragold.com.
As responsible miners, we are committed
to implementing and conforming with the RGMPs, Conflict-Free Gold Standards, Voluntary Principles
on Security and Human Rights, among other internationally recognized standards.
4.1. Human Rights Due Diligence Exercise
In 2022, Centerra requested an external consultant
to assess the human rights performance of its Mount Milligan Mine in Canada and its Öksüt Mine in Türkiye against the UN
Guiding Principles on Business and Human Rights (“UNGPs”) and other applicable human rights standards. The processes
undertaken at Mount Milligan and Öksüt comprised an assessment of potential and actual
human rights impacts and built awareness and capacity about the full scope of site responsibilities
under the UNGPs and RGMPs resulting in site-specific action
plans.
This exercise provided opportunities
to educate key departments about current legal and policy developments in the field of human rights and ESG; to support engagement with
internal and external stakeholders about human rights issues; and to develop action plans that integrate
human rights considerations into existing management plans for
human resources, procurement, health and safety, environment, community relations and security. This
exercise did not identify any material risk of the presence of forced labour or child labour within
our supply chain.
During the Reporting
Period, we have continued to monitor the site-specific action
plans mentioned above which has resulted in the inclusion of human rights clauses into our standard-form
contracts and the continuation of training programs addressing
forced labour and child labour.
4.2. Commitment to the RGMPs
The RGMPs serve as a framework that outlines
the expectations of the gold mining industry’s stakeholders related to ESG issues. These stakeholders
include communities, governments, investors and downstream supply chain actors. Through implementing
the RGMPs, we developed a proactive approach toward identifying
and managing ESG risks including those relating to our supply chain.
The RGMPs cover a wide range of issues, including
specific principles that directly address human rights within our supply chain and our workforce, as follows:
“Principle 3 – Supply chain: we will require
that our suppliers conduct their businesses ethically and responsibly as a condition of doing business
with us
Supply Chain Policy
3.1 We will adopt and publish a Supply
Chain Policy and support our contractors and suppliers to operate responsibly and to standards of ethics, safety, health, human rights
and social and environmental performance comparable with our own. We will conduct risk-based monitoring of compliance.
...
Principle
5 – Human rights and conflict: we will respect the human rights of our workforce, affected
communities and all those people with whom we interact
UN Guiding Principles
5.1 We will adopt and implement policies,
practices and systems based on the UN Guiding Principles on Business and Human Rights.”
Since 2023 and each year since Centerra received
an Independent Limited Assurance Letter attesting
to the Company’s conformance with the RGMPs.
4.3. Supplier Due Diligence
During the Reporting
Period, the Corporation conducted a risk analysis by screening new suppliers engaged during 2025
through a comprehensive risk database of adverse media, sanctioned entities,
watchlists and politically exposed persons. After completing
this due diligence, we found no material risk of the presence of forced labour or child labour within our supply chain.
During the Reporting
Period, the Corporation began to use a third party due diligence and risk monitoring tracking system
to support ongoing oversight of our supply chain. This tracking system provides automated real-time,
continuous monitoring and enables the Corporation to periodically
reassess supplier risk profiles. This initiative strengthens
our ability to promptly identify, monitor and respond to potential
forced labour or child labour risks within our supply chain, as well as notifying us of breaches
of our Supplier Code of Conduct.
4.4. Code of Ethics
Centerra’s Code of Ethics applies to all
members of the Centerra community, including the Board of Directors, management and employees at every level, in every country and from
every Centerra legal entity (including joint ventures where Centerra has a majority/controlling interest).
It addresses ethical conduct in our work environment,
business practices and relationships with external stakeholders.
The principles set out in the Code of Ethics reflect Centerra’s belief that honesty and integrity foster a positive
work environment that strengthens the confidence of all stakeholders. The Code of Ethics details the standards of behaviour expected from
everyone to whom it applies in their daily activities and in
dealings with others. It also outlines the key responsibilities of Centerra leaders who are to provide
a model of high standards of ethical conduct and to create a work environment reflecting both the
content and the spirit of the Code of Ethics.
Among other things, our Code of Ethics requires
compliance with laws respecting safety and the environment in accordance with Centerra’s Sustainable
Development Policy which specifically includes provisions addressing forced labour and child labour, as follows:
“We
will ensure that our activities do not directly
cause or contribute to human rights violations and shall respect and comply with human rights covenants
related to labour, economics, social, culture, health, safety and security, environment and land, modern slavery, cultural heritage, and
Indigenous peoples. Centerra will achieve this by:
| · | Complying with labour laws and regulations
in the jurisdictions in which we operate, and where regulations are not defined, we will refer to international labour standards. |
| · | Respecting our employees’ rights to fair
wages, decent work hours, freedom to form trade unions and freedom from discrimination. |
| · | Regularly conduct due diligence to ensure that
our business activities do not cause or contribute to adverse human rights impacts. |
| · | Seeking to prevent or mitigate adverse human
rights impacts that are directly linked to our operations, including our supply chain.” |
The Code of Ethics applies at all times,
without exception, to all members of the Board of Directors, all of management and all employees.
The Code of Ethics can be found here: https://www.centerragold.com/corporate/corporate-governance/code-of-ethics-and-anti-corruption-policies.
4.5. Supplier Code of Conduct
In line with Centerra’s vision for its
suppliers, Centerra actively engages its supply chain through the adherence of its suppliers to
its Supplier Code of Conduct. The Supplier Code of Conduct details our expectations of suppliers
in respect of human rights, labour, legal compliance, health and safety, the environment, anti-corruption,
ethics, and governance. Prior to starting any work, it is a requirement that all service providers
must either agree to our Supplier Code of Conduct or agree to comply with their own code of conduct with substantially
similar terms. The Supplier Code of Conduct can be found here: https://www.centerragold.com/corporate/corporate-governance/code-of-ethics-and-anti-corruption-policies.
Our Supplier Code of Conduct specifically includes
provisions prohibiting forced labour and child labour, as follows:
“Respect for Human
Rights
We are committed to upholding international
human rights standards throughout our supply chain. Suppliers must not engage in or support any form of forced or compulsory labour, including
bonded labour, involuntary prison labour, or human trafficking. Additionally, suppliers are strictly prohibited from employing individuals
below the legal working age in their respective countries or regions. We expect our suppliers to respect responsible employment practices,
diversity, and human rights in the workplace and the communities in which they operate. Suppliers should implement effective policies
and procedures, proportionate to their size, sector, and context, to ensure compliance with these standards. This includes providing safe
and healthy working conditions, respecting diversity, and fostering a work environment free from discrimination.
Suppliers are also expected to have
grievance mechanisms for workers and community members, ensuring that concerns can be raised without fear of reprisals.”
4.6. Complaint Procedure
In accordance with our Code of Ethics, our
Supplier Code of Conduct and our Complaint Procedure on our website (https://www.centerragold.com/corporate/corporate-governance/complaint-procedure),
should employees or suppliers have concerns regarding forced labour or child labour, or other matters,
they have a responsibility to report their suspicions without fear of dismissal or retaliation of
any kind. To that effect, Centerra provides multiple channels
for them to report any potential breach, on a confidential
basis or not, such as:
| · | Employees can contact their supervisors, or any
member of senior management; |
| · | Employees can contact the Audit Committee
Chair by sending by regular mail (or other means of delivery) to the corporate headquarters of Centerra. Any such mail shall be delivered
unopened to the Audit Committee Chair; or |
| · | Employees may report their concerns anonymously
by using Centerra’s Compliance Hotline, which has been established in connection with the Code
of Ethics. The Compliance Hotline is a 24 hours-a-day service which is operated by an independent third-party service provider and can
be accessed via phone, internet or mail. All submissions through the Compliance Hotline are then reviewed by internal members of the Corporation’s
legal team. |
| 5. | Assessing and managing our risk |
Centerra uses a risk-based approach to assess
and manage the risk of forced labour and child labour being utilized in its supply chain. This has
resulted in the development and implementation of specific action
plans which flowed from a human rights due diligence exercise conducted for each of our operating
mines. Further, our methodology to identify risks in our supply chain through our supplier due diligence
process combines country risk and event risk indicators as well as leveraging a comprehensive risk database of adverse media, sanctions,
watchlists, and politically exposed persons. Risk information
is then curated into detailed profiles by individuals or organization and then reviewed by management
of Centerra to conduct a risk assessment. To date, the due diligence conducted by Centerra has not identified
a material risk within our supply chain regarding the presence of forced labour or child labour.
Our Code of Ethics, Supplier Code of Conduct
and Complaint Procedure offer a reporting mechanism for our
employees and suppliers to report ethical or legal violations, among other concerns. Our Supplier
Code of Conduct also includes information on the Compliance Hotline, which suppliers can use to raise
concerns. In accordance with our policies, if a situation of non-compliance is identified,
Centerra will work to develop and implement a corrective plan to improve and remedy the situation.
To date, Centerra has not identified or has knowledge of any material risk of the presence of forced
labour or child labour used in its activities or supply chain
and therefore has not undertaken any measures to: (i) remediate forced labour or child labour in its activities
and supply chain; or (ii) remediate loss of income that results from any measure taken to eliminate the use of forced labour or child
labour in its activities and supply chain.
Employees of Centerra receive regular tailored
training on ethical topics and our policies. All new employees are assigned a mandatory onboarding training package which includes training
on our Code of Ethics. On an annual basis, all such employees are required to certify their compliance
with the Code of Ethics. Further, during the Reporting Period, Centerra provided training on the
Act to individuals newly appointed to procurement roles within the organization.
| 8. | Assessing effectiveness |
Centerra has in place a number of measures to
identify, prevent and reduce the risk that forced labour or child labour is used in our activities
and supply chain. During the Reporting Period, Centerra completed a benchmarking exercise to assess
the effectiveness of Centerra’s practices
related to forced labour and child labour risk management. Based on the results of this exercise, we concluded that our current practices
are aligned with leading practices observed in the market, and no additional
measures or material gaps were identified at such time.
| 9. | Approval and Attestation |
This Report was approved pursuant to subparagraph
11(4)(b)(ii) of the Act by the Board of Directors of Centerra Gold Inc. For the purposes of the Act, Thompson Creek Metals Company Inc.
is an entity controlled by Centerra Gold Inc.
In accordance with the requirements of the Act,
and in particular section 11 thereof, I, in the capacity of
President, CEO and Director of Centerra Gold Inc., attest that I have reviewed the information
contained in the Report for the entities listed above. Based on my knowledge, and having exercised
reasonable diligence, I attest that the information in the Report
is true, accurate and complete in all material respects for the purposes of the Act, for the Reporting
Period.
I have the authority to bind Centerra Gold Inc.
| Per: |
(signed) “Paul Tomory” |
|
| Full Name: Paul Tomory |
|
| President, CEO and Director of Centerra Gold Inc. |
|
| Date: April 2, 2026 |
|
