Littleton-based Thompson Creek Metals Company Inc., an operator of two molybdenum mines, might sell a portion of future gold-mining revenue as part of a plan to raise about $200 million to fund expansion projects in Canada.
Funding options include the sale of an income stream from gold produced at its Mount Milligan mine in British Columbia, Chairman and CEO Kevin Loughrey said in a telephone interview today.
Thompson Creek mines molybdenum, which is used to harden steel, at the Endako mine in British Columbia and the Thompson Creek mine in Idaho.
The company acquired Mount Milligan when it bought Terrane Metals Corp. for C$716.6 million ($706.1 million) last year. It plans to start production at the copper and gold mine in 2013.
Thompson Creek and its partner Sojitz Corp. are also expanding the mill at Endako. Sojitz, a Japanese trading company, owns 25 percent of Endako.
Royal Gold Inc. agreed in July 2010 to buy 25 percent of the payable gold produced from Mount Milligan.
