https://www.engineeringnews.co.za

Taseko forecasts higher output from Gibraltar in 2025

The Gibraltar mine in British Columbia

The Gibraltar mine in British Columbia

10th January 2025

By: Creamer Media Reporter

     

Font size: - +

TSX- and NYSE American-listed Taseko Mines has set its sights on increased copper production in 2025, forecasting yearly output of between 120-million and 130-million pounds - up from the 106-million pounds produced in 2024 at its 100%-owned Gibraltar copper mine, in British Columbia.

Copper production for 2024 totaled 106-million pounds, with molybdenum output reaching 1.4-million pounds. Sales volumes matched closely, with 108-million pounds of copper and 1.4-million pounds of molybdenum sold during the year.

In an announcement on Thursday, Taseko president and CEO Stuart McDonald highlighted operational improvements following planned maintenance in July, which have positioned the company for higher output in the coming year. “Since completion of the planned major maintenance activities in July, milling operations at Gibraltar have been running smoothly. Mill throughput averaged over 89 000 tons a day in the fourth quarter, 5% over design capacity, resulting in copper production of 29-million pounds for the period,” he said.

McDonald noted that the increased mill availability achieved in late 2024 is expected to drive the production boost in 2025, although output will likely be weighted towards the second half of the year.

The company also finalised a transaction with Osisko Gold Royalties in late December, amending the Gibraltar silver stream agreement to increase Osisko's attributable silver percentage from 87.5% to 100%. In exchange, Taseko received an additional cash payment of $12.7-million.

“The silver stream amendment follows our acquisition of the remaining 12.5% Gibraltar joint venture interest last March, and the additional cash proceeds further strengthen our balance sheet during this period of construction spending at Florence Copper,” McDonald concluded.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Axiom Hydraulics
Axiom Hydraulics

Axiom Hydraulics is a trusted leader in South Africa’s hydraulic industry, delivering world-class components, systems, and engineering expertise...

VISIT SHOWROOM 
Egoli Gas (Pty) Ltd
Egoli Gas (Pty) Ltd

As a reticulator, Egoli Gas provides natural gas to homes and businesses via underground pipes.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.061 1.124s - 140pq - 2rq
Subscribe Now