On July 5th 2016, Thompson Creek Metals Company Inc. (Thompson Creek) and Centerra Gold Inc. (Centerra) announced that they have entered into an arrangement agreement where Centerra will purchase all issued and outstanding common shares of Thompson Creek. The value placed on this deal by the two companies is US$1.1 billion including capital leasing obligation. This transaction will allow Centerra to increase its exposure to gold and to diversify into copper. Thompson Creek’s flagship gold asset is a low cost Canadian copper-gold asset called Mount Milligan. Its location will decrease Centerra’s geopolitical risk. This deal also provides significant financial strength to Thompson Creek's current shareholders.