Vancouver – Mining has recommenced at Taseko Mines’ (TKO-V) Gibraltar copper operation, located just north of Williams Lake in south-central British Columbia.
It’s joint venture operating agreement with Ledcor Mining in place, mining and processing of copper ore from the open pit has begun, with the first shipment of concentrate already completed.
Initial production is coming from the Polyanna pit. The 35,000 tonne-per-day operation is expected to produce and average of 70 million pounds of copper and 980,000 pounds of molybdenum in concentrates annually from the sulphide ore deposits. An additional 10 million pounds of cathode copper annually is anticipated from SX-EW processing of the oxide ore, when it is exploited.
Taseko and Ledcor have recommissioned the mine with all new operating equipment including a new 40 cubic yard P&H 2800XPB shovel and five new 205-ton Terex haul trucks.The concentrate shipments will see the company immediately benefit from rallying copper and molybdenum prices, about US$1.40 and US$20.00 per pound respectively.
As of the latest figures, the company reports 85 million shares outstanding, giving them a market capitalization of about $150 million at its present trading range around $1.75 per share.
Be the first to comment on "Gibraltar mine producing copper for Taseko"