Taseko Mines Ltd - North America-focused mining company - Says its Gibraltar mine produced 34 million pounds of copper and 369,000 pounds of molybdenum in the fourth quarter of 2023. Copper sales volumes reached 36 million pounds. Company says production was supported by strong 0.27% copper grades. Mill throughput averaged 83,000 tonnes per day and was affected by extra downtime needed for maintenance and monitoring. Taseko adds that for 2023, the mine produced 123 million pounds of copper, a 26% increase on production for 2022 and ‘well above previous guidance’.
Chief Executive Officer Stuart McDonald says: ‘The strong finish to 2023 is expected to continue in 2024 as the Gibraltar pit will remain the main source of ore for the first half of this year.’
Current stock price: 104.50 pence
12-month change: down 25%
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