- Taseko Mines (TKO) is releasing the latest production numbers from its Gibraltar Mine in British Columbia’s Cariboo region
- The Vancouver-based mineral resource company sold 101 million pounds of copper from the mine in 2022
- Production totalled 97 million pounds over the same period
- Fourth quarter copper sales were 26 million pounds, while production amounted to 27 million pounds
- Taseko Mines is up 7.73 percent, trading at $2.23 at 1:58 p.m. EST
Taseko Mines (TKO) is releasing the latest production numbers from its Gibraltar Mine in British Columbia’s Cariboo region.
The Vancouver-based mineral resource company sold 101 million pounds of copper from the mine in 2022. Production totalled 97 million pounds over the same period.
Fourth quarter copper sales were 26 million pounds, while production amounted to 27 million pounds.
Sales and production totals were below average, mostly due to cold weather interrupting the mining and milling process.
On average, the mine produces around 130 million pounds of copper per year.
Taseko restarted production at the mine in 2004. The company owns a 75-per-cent-interest in the project.
“Mill throughput in October and November averaged above design capacity, but production in December was impacted by unplanned mill downtime, including a sitewide power outage late in the month. Although the power outage was only 24 hours in duration, the severe cold temperatures of -35° Celsius immediately froze a number of essential systems in the mills, which delayed the restart of milling operations for several days,” said Taseko Mines President and CEO Stuart McDonald.
“Our operations personnel did a good job to safely return milling operations to full capacity by the end of the month, with no damage to any critical systems. However, mill throughput averaged only 63,000 tons per day in December, compared to 88,000 tons per day in October and November. Copper recoveries in the fourth quarter were 82 percent, an improvement over the prior quarters in 2022.”
Taseko Mines is up 7.73 percent, trading at $2.23 at 1:58 p.m. EST.