Thompson Creek Metals Company Announces Second Quarter 2014 Operating Results - Seite 2

Mt. Milligan Mine

The ramp-up at Mt. Milligan continues to progress well with mine pit grades and metal recoveries as expected, and mill throughput steadily improving. During the second quarter of 2014, the Company made three shipments of copper and gold concentrate under its sales agreements and received provisional payments for all three of those shipments. The Company received an additional provisional payment for a shipment that took place in the first quarter of 2014. The timing of the gold and copper concentrate shipments and related provisional payments from Mt. Milligan are based on the structure of the Company's sales agreements. 

"We are pleased with our production results and safety performance for this quarter, and in particular, with the operational performance at Mt. Milligan Mine," said Jacques Perron, Chief Executive Officer of Thompson Creek. "After a number of adjustments in April and May, we achieved an average of 48,065 tonnes per day for the month of June with a record daily mill throughput of 63,970 tonnes on June 16. These operational results are significant milestones for us at this stage of the ramp-up. We continue to expect fluctuations in mill throughput until 75 - 80% of design capacity is reached later this year."

Thompson Creek Mine

At Thompson Creek Mine, molybdenum production for the second quarter of 2014 was better than expected primarily due to higher ore grades and mill recoveries. Mining of Phase 7 ore is expected to be completed in the third quarter of this year, with stockpiled ore being processed thereafter.

Endako Mine

At Endako Mine, molybdenum production for the second quarter of 2014 was lower than expected. Operational challenges associated with maintaining a consistent feed from the mine to the mill, tailings operational issues, and lower than expected ore grades and recoveries during the second quarter adversely impacted production results. 

About Thompson Creek Metals Company Inc.

Thompson Creek Metals Company Inc. is a diversified North American mining company. The Company's principal operating properties are its 100%-owned Thompson Creek Mine, an open-pit molybdenum mine and concentrator in Idaho, its 100%-owned Mt. Milligan Mine, an open-pit copper and gold mine and concentrator in British Columbia, a 75% joint venture interest in the Endako Mine, an open-pit molybdenum mine, concentrator and roaster in British Columbia, and the 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 property 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.