Metals and Mining
Company Overview of Terrane Metals Corp.
Terrane Metals Corp. engages in the exploration and development of mineral properties in Canada. It primary holds interests in the Mt. Milligan copper-gold project located in north-central British Columbia; and the Berg copper-molybdenum-silver project located in central British Columbia. The company was founded in 2006 and is headquartered in Vancouver, Canada. As of October 20, 2010, Terrane Metals Corp. operates as a subsidiary of Thompson Creek Metals Company Inc.
999 West Hastings Street
Vancouver, BC V6C 2W2
Founded in 2006
Key Executives for Terrane Metals Corp.
Senior Vice President of Project Development
Corporate Secretary and Controller
Vice President of Exploration
Compensation as of Fiscal Year 2014.
Terrane Metals Corp. Key Developments
Terrane Metals Corp. Enters into A Copper Concentrate Sales Agreement with Glencore Ltd
Aug 17 12
On August 13, 2012, Terrane Metals Corp. entered into a Copper Concentrate Sales Agreement with Glencore Ltd., whereby Terrane, agreed to sell to Glencore copper-gold-silver concentrate produced by Terrane at its Mt. Milligan mine, which is currently under construction in British Columbia, Canada. The term of the Glencore Agreement commences on the date the Mine begins commercial production, and terminates at the end of the third full calendar year thereafter. During the initial partial year of the term and the first full calendar year thereafter, the annual quantity of concentrate which Glencore will purchase from Terrane will be 30% of annual production in each such year subject to a maximum of 40,000 dry metric ton, and approximately 40,000 DMT in each of the two calendar years thereafter. Payment for the concentrate will be based on the agreed copper, gold and silver content of the parcels delivered to Glencore pursuant to the terms of the Glencore Agreement, less smelting and refining charges and certain other deductions, if applicable. Pricing will be determined by reference to specified published reference prices during the applicable quotation periods set in the Glencore Agreement. The copper smelting and refining charges will be negotiated in good faith and agreed by the parties for each contract year based on terms generally acknowledged as industry benchmark terms. The gold and silver refining charges are as specified in the Glencore Agreement. Glencore will make a 90% provisional payment for concentrate no later than twenty-five business days after the bill of lading date.
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