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Taseko Announces a 26% Increase in Annual Copper Production from its Gibraltar Mine
Taseko Mines Limited (TSX: TKO) (NYSE American: TGB) (LSE: TKO) is pleased to announce that the Gibraltar mine produced 34 million pounds of copper and 369 thousand pounds of molybdenum in the fourth quarter of 2023. For the full year, Gibraltar produced 123 million pounds of copper, well above guidance and 26% higher than the previous year.
Copper production in the fourth quarter was supported by strong copper grades of 0.27% with ore from the lower benches of the Gibraltar pit. Mill throughput in the quarter averaged 83,000 tons per day and was impacted by additional downtime for maintenance and monitoring of the ball mill in concentrator #2.
Copper sales volumes in the fourth quarter were 36 million pounds, and year-end concentrate inventories remained above normal levels.
Stuart McDonald, President and CEO of Taseko, commented, “The strong finish to 2023 is expected to continue in 2024 as the Gibraltar pit will remain the main source of ore for the first half of this year.”
Note: Production and sales volumes stated in this release are on a 100% basis.
Posted January 10, 2024
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