Taseko reports significant copper production increase in third quarter
(Kitco News) - Taseko Mines (TSX: TKO) announced today that its Gibraltar mine in British Columbia produced 34.5 million pounds of copper and 600 thousand pounds of molybdenum in Q3 2021, or 29% and 50% higher, respectively, over Q2 2021.
President and CEO Stuart McDonald commented, "Gibraltar had another solid operational quarter, with improved copper grades and recoveries resulting in production that was on target and in line with guidance. The mine is well positioned for the year ahead as mining operations are smoothly transitioning into the Gibraltar pit, where grade is meeting expectations and the mills are efficiently processing the new ore."
The company added it expects that the average LME copper price of US$4.25 per pound in the third quarter, combined with increased production volumes and declining unit costs, will translate directly to improved financial performance this quarter.
Headquartered in Vancouver, Taseko Mines is mining company focused on the operation and development of mines in North America. Taseko operates the Gibraltar mine, the second largest copper mine in Canada. Taseko's wholly-owned Florence Copper, Yellowhead, and Aley projects are all advanced staged projects that provide the company with a diverse commodity pipeline.