BRITISH COLUMBIA - TASEKO MINES of Vancouver has signed a six-year agreement with MRI TRADING AG of Switzerland for the treatment and refining of copper concentrates from Taseko's Gibraltar mine near Williams Lake. The mine will produce approximately 1.0 million tonnes of concentrate during the next six years. The agreement also gives Taseko a US$30-million line of credit. Taseko retains the right to sell copper metal at market prices.
Russell Hallbauer, president and CEO of Taseko, said, "Gibraltar produces one of the highest quality copper concentrates in the world which is reflected by the financial terms for processing our concentrate and the line of credit that has been secured. Stabilization of our treatment and refining costs for a period of six years is an important step as we continue to build our business and decrease Gibraltar's cost."
For further information on Taseko and its properties, visit the company's website at www.TasekoMines.com.
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