Western Copper and Gold

What Western Copper and Gold does

Western Copper and Gold Corporation is a development-stage mining company headquartered in Vancouver, British Columbia, focused solely on advancing its flagship Casino Project in Yukon, Canada. Founded in 2006 and listed on the TSX and NYSE American under the ticker WRN, the company is a single-asset operator pursuing one of Canada's largest proposed copper-gold mines. The company currently generates no revenue and is in the permitting and pre-production phase, with an Environmental and Socio-economic Effects Statement (ESE Statement) submitted to the Yukon Environmental and Socio-economic Assessment Board (YESAB) in October 2025 marking the most advanced regulatory milestone in the project's history. New technical leadership was appointed in January 2026 (Chief Operating Officer and Vice President of Technical), and Mark E. Smith joined the board in November 2025, signalling the company's transition from explorer to developer.

The Casino Project is designed as a conventional open-pit operation with 120,000 tpd mill throughput using gravity and flotation concentration, supplemented by a 25,000 tpd heap leach facility for oxide ore. Per the 2022 Feasibility Study, the project carries a 27-year mine life with average annual production of 353 Mlbs copper equivalent and 1.1Moz gold equivalent. Distinguishing technical attributes include an industry-low 0.43:1 strip ratio, ultra-low C1 cash costs of $(0.80)/lb Cu net of by-product credits (gold, molybdenum, silver), and a higher-grade Core Zone that supports a 3.3-year payback period. Capital intensity is high, with an estimated C$3.62 billion in pre-production capital required under the feasibility base case.

Western Copper and Gold's business model centres on developing the Casino Project to produce copper, gold, molybdenum, and silver, with future output to be sold to smelters, refineries, and commodity traders globally through offtake agreements and spot sales. The company generates no current revenue and funds operations through equity financings, including a C$92 million bought deal in February 2026 and strategic investments from Rio Tinto (7.84% stake, C$25.6M, May 2021) and Mitsubishi Materials (~5% stake, C$21.3M, April 2023; rights agreement extended to November 2028). Go-to-market activity is investor-relations-led, relying on industry conferences such as PDAC, roadshows, regulatory filings on SEDAR+/EDGAR, and partnerships with First Nations communities (notably a C$75,000 community nutrition contribution with Little Salmon Carmacks First Nation in late 2025). Projected economics upon production include C$517 million in annual after-tax cash flow, a C$44 billion contribution to Canada's GDP over the mine's life, and 700 direct plus 2,000 indirect jobs.

Name

Western Copper and Gold

Legal name

Western Copper and Gold Corporation

Website

https://westerncopperandgold.com

Company type

Public

Founded year

2006

Operating status

Operating

Headcount range

11–50 employees

Short description

Western Copper and Gold is a Vancouver-based, pre-production mining company solely advancing the Casino copper-gold project in Yukon, Canada, projected to produce 353 Mlbs CuEq and 1.1Moz AuEq annually over a 27-year mine life.

Ownership category

akta.pro rank

Product category

Copper-Gold Mining

NAICS

Copper, Nickel, Lead, and Zinc Mining (212230), Gold Ore and Silver Ore Mining (212220)

SIC

Metal Mining (1000), Miscellaneous Metal Ores (1090)

akta.pro primary industry

Copper Exploration & Resource Development (IMAKADAA)

akta.pro secondary industries

Copper Ore Mining (Open-Pit & Underground) (IMAKADAB), Copper By-Products Recovery (Molybdenum, Gold/Silver, Sulfuric Acid) (IMAKADAH), Gold Mining (IMAKAEAA)

Keywords

• Copper gold mining
• Open pit mining
• Mineral exploration
• Critical minerals development
• Mine permitting

Headquarters

HQ city

Vancouver

HQ country

Canada

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Operations, Technology or R&D, Infrastructure

Revenue model

1. Copper Production: Primary revenue driver from copper cathode/production; projected to rank as Canada's second-largest copper producer, increasing domestic production by 15%; average annual production of 164 Mlbs copper at C1 cash costs of $(0.80)/lb net of by-product credits
2. Gold Production: Significant by-product revenue from gold doré; average annual production of 259 Koz gold; gold constitutes 36% of projected revenue mix
3. Molybdenum and Silver: Secondary by-products from concentrate production; 15 Mlbs annual molybdenum production (500% increase to Canada's production) and 1,392 Koz silver annually

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

Western Copper and Gold is developing the Casino Project, a large-scale, advanced-stage open-pit copper-gold mining operation in Yukon, Canada. The project is designed to produce copper, gold, molybdenum, and silver concentrates over a 27-year mine life using a 120,000 tpd mill and a 25,000 tpd heap leach facility. The company is currently in the environmental assessment and permitting stage, with the ESE Statement submitted to YESAB in October 2025.

Product overview

Western Copper and Gold Corporation is a single-project mining company focused on developing the Casino Project, Canada's premier copper-gold mine in the Yukon Territory. The company operates as a development-stage entity with one flagship project that encompasses both a conventional mill processing facility (120,000 tpd) and a heap leach operation (25,000 tpd). The Casino Project is designed to produce copper, gold, molybdenum, and silver over a 27-year mine life, with the mill processing the bulk of the ore and the heap leach targeting oxide mineralization.

Differentiator

Problem solved

Functional benefit

Brands

• Casino Project: Large-scale copper-gold mining project located in Yukon, Canada. One of Canada's largest proposed copper-gold mines designed to responsibly supply critical minerals.

Products and services

• Casino Project A large-scale, advanced-stage copper-gold mining project in Yukon, Canada, designed as an open-pit mine with a 27-year mine life. The project will deploy a 120,000 tpd mill (gravity and flotation) and a 25,000 tpd heap leach facility to produce copper, gold, molybdenum, and silver concentrates for sale to smelters, refineries, and commodity traders. Average annual production is projected at 353 Mlbs CuEq (1.1 Moz AuEq) with a 3.3-year payback period and C1 cash costs of $(0.80)/lb Cu net of by-product credits.

Quantifiable outcome

• 27-year mine life with 3.3-year payback period
• +5 more outcomes

Named customers1 record

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Two partnerships are on record, tiered core.

• Little Salmon Carmacks First NationcoreStrategic or Co-development Partner · 4 December 2025Community partnership agreement contributing C$75,000 to support school and daycare nutrition programs in Carmacks for the 2025/26 school year. Partnership aims to offset costs amid federal funding disruptions affecting community programs in Yukon. Represents ongoing collaboration with affected First Nations as part of the Casino Project development.
• Yukon Environmental and Socio-economic Assessment Board (YESAB)coreOthersRegulatory partnership through the YESAA (Yukon Environmental and Socio-economic Assessment Act) process. ESE Statement submitted October 2025 initiating formal Panel Review process. Government of Yukon announced restructuring of Mineral Resources Branch on March 2, 2026 to improve coordination and reduce permitting delays for major mine projects.

Scale indicators13 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Hudbay Minerals: Canadian mid-tier copper-gold producer-developer with operations and development projects in Canada and Latin America. Comparable as a publicly-listed Canadian copper-gold-focused miner advancing projects through permitting and construction phases.
• Taseko Mines: Canadian copper-gold developer-operator with the producing Gibraltar mine in BC and the development-stage Florence Copper project in Arizona. Closely comparable size, commodity focus, and development-stage pipeline profile to Western Copper and Gold.
• Imperial Metals: Canadian copper-gold producer with the Red Chris mine in BC and Mount Polley in BC. Similar commodity mix (copper-gold with by-products), Canadian-listed mid-cap developer-operator profile, and British Columbia headquarters.
• Capstone Copper: Copper-focused mid-cap producer with operations in Canada, Mexico, and Chile. Comparable as a publicly-traded copper developer-producer with growth pipeline from development-stage assets into production, sharing commodity focus and Canadian listing.
• Copper Mountain Mining: Canadian copper-gold producer operating the Copper Mountain mine in BC. Comparable commodity focus (copper-gold), British Columbia operating jurisdiction, mid-cap size profile, and exposure to development-stage growth projects.

Emerging players

• NGEx Minerals: Canadian copper-gold explorer-developer focused on advanced-stage porphyry copper-gold projects in South America. Comparable as a development-stage copper-gold company with single-asset focus and similar resource-stage profile, though with different geographic exposure.
• Solaris Resources: Copper-gold development company advancing the Warintza project in Ecuador. Comparable as a development-stage copper-gold company backed by major mining strategic investors, with similar single-asset pre-construction profile and financing-driven development path.
• Foran Mining: Canadian base-metals developer advancing the McIlvenna Bay copper-zinc-gold project in Saskatchewan. Comparable as a Canadian-listed pre-construction developer with a single flagship asset progressing through permitting toward a construction decision.
• Northern Dynasty Minerals: Developer of the Pebble copper-gold-molybdenum project in Alaska. Highly comparable commodity mix (copper-gold-molybdenum porphyry), North American geographic exposure, and large-scale pre-production development-stage profile, though with different permitting dynamics.

Broad incumbents

• New Gold: Canadian intermediate copper-gold producer with operating Rainy River and New Afton mines. Comparable commodity mix and Canadian listing, but broader portfolio of producing assets provides cash flow diversification Western Copper and Gold lacks.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/westernCuandAu
• Facebookfacebook.com/WesternCopperandGold
• LinkedInlinkedin.com/company/western-copper-and-gold

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries1 record

Funding overview

Funding rounds15 records

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Western Copper and Gold