Taseko Lifts Copper Output as Florence Ramps Up and Gibraltar Delivers Strong Quarter
Claim 30% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Taseko Mines ( (TSE:TKO) ) has provided an update.
Taseko Mines reported that its Florence Copper SX/EW plant, which began operations in mid-February, produced 1.5 million pounds of copper cathode in the first quarter, with initial in-situ leaching results tracking internal models. Management is now concentrating on ramping up output by integrating additional wells and expanding the wellfield, positioning Florence as a growing contributor to group production.
At the Gibraltar mine, first-quarter output rose sharply to 30 million pounds of copper and 717 thousand pounds of molybdenum, with improved recoveries and grades in line with long-term averages. While higher diesel prices are expected to modestly lift operating costs at Gibraltar, strong copper prices and a fixed-price sulphuric acid contract at Florence underpin expectations for continued robust financial performance from both assets.
More about Taseko Mines
Taseko Mines Limited is a Canadian mining company focused on copper production, operating the Gibraltar open-pit mine in British Columbia and the Florence Copper in-situ recovery project in Arizona. The company produces copper concentrate and copper cathode, with molybdenum as a byproduct, and is leveraged to global copper market conditions.
See more data about TKO stock on TipRanks’ Stock Analysis page.
