DENVER, June 2, 2015 /CNW/ - Thompson Creek Metals Company Inc. (NYSE: TC) (TSX: TCM) ("Thompson Creek" or the "Company") announced today an update on mill operations and throughput at Mount Milligan Mine. Over the past few months, various adjustments and modifications were made at Mount Milligan to address operational challenges experienced during the first quarter of 2015. While additional improvements are expected to be completed in the second half of this year, during the month of May, daily mill throughput averaged 50,686 tonnes, and tonnage per operating hour averaged 2,198, compared to 39,569 tonnes and 1,889 tonnes per hour, respectively, for the first quarter of 2015. Mill availability in May was approximately 96%, compared to 87% in the first quarter.
Jacques Perron, President and Chief Executive Officer of Thompson Creek, said, "We are very pleased that the solutions and modifications we have been implementing to address operational challenges experienced during the first quarter have resulted in improved mill performance at Mount Milligan Mine. Throughout the month of May, we experienced steady weekly increases in daily throughput. Additional improvements will be made during future scheduled maintenance shutdowns in the third and fourth quarters of this year, which will impact mill availability; however, we expect to see continuous improvement in average daily mill throughput for the remainder of the year. We would like to thank our Mount Milligan employees for their tenacity as they worked through the operational challenges in a positive and collaborative manner and recognize their hard work and dedication to continue to improve our performance to achieve our objectives."
About Thompson Creek Metals Company Inc.
Thompson Creek Metals Company Inc. is a North American mining company. The Company's principal operating property is its 100%-owned Mount Milligan mine, an open-pit copper and gold mine and concentrator in British Columbia. The Company's molybdenum assets consist of its 100%-owned Thompson Creek Mine, an open-pit molybdenum mine and concentrator in Idaho, its 75% joint venture interest in the Endako Mine, an open-pit molybdenum mine, concentrator and roaster in British Columbia, and its Langeloth Metallurgical Facility in Pennsylvania. The Company's development projects include the Berg property, a copper, molybdenum, and silver exploration property located in British Columbia and the Maze Lake property, a gold exploration project located in the Kivalliq District of Nunavut, Canada. The Company's principal executive office is located in Denver, Colorado. More information is available at www.thompsoncreekmetals.com.
Cautionary Note Regarding Forward-Looking Statements
This news release contains ''forward-looking statements'' within the meaning of the United States Private Securities Litigation Reform Act of 1995 Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and applicable Canadian securities legislation. These forward-looking statements generally are identified by the words "believe," "project," "expect," "anticipate," "estimate," "intend," "future," "plan," "may," "should," "will," "would," "will be," "will continue," "will likely result," and similar expressions. Our forward-looking statements include, without limitation, statements with respect to: future financial or operating performance of the Company or its subsidiaries and its projects, including future mill availability and production results at Mount Milligan Mine; future inventory, production, sales, payments from customers, cash costs, capital expenditures and exploration expenditures; future earnings and operating results, including future throughput rates and other production metrics at Mount Milligan Mine; expected costs; future operating plans and goals, including the timing and nature of additional changes or improvements to the mill and the timing of future maintenance shutdowns; and future molybdenum, copper and gold prices.
Where we express an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. However, our forward-looking statements are based on current expectations and assumptions that are subject to risks and uncertainties which may cause actual results to differ materially from future results expressed, projected or implied by those forward-looking statements. Important factors that could cause actual results and events to differ from those described in such forward-looking statements can be found in the section entitled "Risk Factors" in Thompson Creek's Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other documents filed on EDGAR at www.sec.gov and on SEDAR at www.sedar.com. Although we have attempted to identify those material factors that could cause actual results or events to differ from those described in such forward-looking statements, there may be other factors, currently unknown to us or deemed immaterial at the present time that could cause results or events to differ from those anticipated, estimated or intended. Many of these factors are beyond our ability to control or predict. Given these uncertainties, the reader is cautioned not to place undue reliance on our forward-looking statements. We undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events, or otherwise.
SOURCE Thompson Creek Metals Company Inc.
For further information: Pamela Solly, Director, Investor Relations and Corporate Responsibility, Thompson Creek Metals Company Inc., Tel: (303) 762-3526, [email protected]; Barbara Komorowski, Renmark Financial Communications Inc., Tel: (514) 939-3989, [email protected]