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Centerra Gold achieves commercial production at Öksüt Mine

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(Kitco News) - Centerra Gold Inc. (TSX: CG) has achieved commercial production at the Öksüt Gold Mine in Turkey, the company announced Tuesday.

“Commercial production at Öksüt marks a major milestone for the company,” said Scott Perry, president and chief executive officer. “Öksüt was delivered on time and under budget.”

The first gold pour occurred on Jan. 31. Now that the mine has achieved commercial production, Centerra has three producing operations to deliver cash flow. The others include the Kumtor Mine in the Kyrgyz Republic and the Mount Milligan Mine in British Columbia.

Company-wide gold production in the first quarter rose to 190,474 ounces from 183,563 ounces in the same period a year ago, Centerra said in its last earnings report. This included 152,307 ounces at Kumtor, 33,681 ounces at Mount Milligan and 4,486 at Öksüt during the start-up phase. Copper production at Mount Milligan during the first quarter was 20.1 million pounds.

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