Centerra Gold has a 95% equity interest and 98% economic interest in Boroo, the first significant foreign investment for industrial development in Mongolia since 1979. Located 110 kilometers west-northwest of Ulaanbaatar, the country's capital, Boroo began commercial production on March 1, 2004 and is expected to produce 220,000 ounces of gold (including gold produced during commissioning) by year-end. Over the next five years, the Boroo open-pit mine is expected to process more than 1.75 million metric tonnes of ore and produce more than 30 tonnes or an average of 180,000 ounces of gold per year at a total cash cost of $170 per ounce.
The Boroo gold deposit is generally flat lying or sub-horizontal and extends over an area measuring 2.5 by 1.5 kilometres. Throughout the area, a series of mineralized zones occur up to 400 metres wide and typically average from 10 to 30 metres in thickness. The deposit contains more than 10 million tonnes of probable reserves at an average grade of 3.5 grams per tonne and containing 1.15 million ounces of gold.
While Boroo is located in a relatively remote area of the world, it is well positioned with respect to existing infrastructure. The paved all-weather Ulaanbaatar - Irkutsk highway passes within three kilometers of the mine site. The main Trans-Mongolian railway, which links Ulaanbaatar with Irkutsk, Russia and Beijing, China, runs through Baruunkharaa, about 20 kilometers to the north of the mine site.
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