Thompson Creek Metals Co. Inc. announced Monday its purchase of Terrane Metals, which owns the proposed $917-million Mount Milligan mine, received B.C. Supreme Court approval for the transaction.
Under the terms of the deal, Terrane shareholders will receive 90 cents in cash and 0.052 of a Thompson Creek share per Terrane share.
The deal is expected to be completed in early October.
The mine, about 155 kilometres northwest of Prince George, is the closest new mining project to the city.
Thompson Creek Metals already owns the Endako molybdenum mine west of Prince George, which is in the midst of a $480-million expansion and upgrade.
Preliminary construction of the Mount Milligan mine started this year.
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