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Taseko expects its adjusted EBITDA to double in 2020

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(Kitco News) - Taseko Mines (TSX: TKO) today reported that its adjusted EBITDA for 2020 is expected to be in the range of $105-110 million, up from $51 million in 2019.

Taseko said that its Gibraltar mine produced 123 million pounds of copper and 2.3 million pounds of molybdenum in 2020.

The company added that it ended the year with a cash balance of $85 million, up from $53 million at the end of 2019.

Looking ahead to 2021, the company expects copper production of approximately 125 million pounds from Gibraltar.

President Stuart McDonald commented, “Given the volatility and challenges brought about by COVID-19 over the past year and the state of the global economy just nine months ago, we are very pleased with our 2020 financial results and optimistic about the year ahead.”

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