BRITISH COLUMBIA – Vancouvers TASEKO MINES has set aside a further $40 million for the Phase Two expansion project for the Gibraltar copper mine and mill near Williams Lake. The expansion will raise output to 100 million lb of copper annually from 70 million lb.
The mill will reach 50,000 t/d by the end of 2008. The Phase Two program will add crushing and regrinding capacity, additional flotation cells, tailings and ancillary system upgrades to the mill. These will come on top of Phase One work that is boosting mill capacity to 42,000 t/d by the end of 2007. Both phases of the expansion will cost approximately $130 million.
The expansion is possible because Tasekos exploration program has reclassified large tonnages of resources as reserves, in part thanks to the continuing high copper price. Visit www.TasekoMines.com when the latest 41-101 report is posted.