Thompson to build $498M Endako mill

Vancouver – Thompson Creek Metals (TCM-T) announced that it plans on building a new $498 million mill for its Endako mine in southwestern B.C.

Thompson, which will be responsible for 75% or roughly $374 million of the cost, had previously outlined plans to in part upgrade existing infrastructure at Endako.

The original plan would have cost significantly less money – about $125 million – but relied on a mix of new equipment and upgrades.

Thompson decided to go with an all new mill because desired production savings would more likely be achieved.

Thompson says it is seeking approval from its joint venture partner Sojitz to go ahead with the capital expenditure.

More to come