Canadian Mining Journal

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COPPER: Gibraltar expansion to pay off in 2014

and expanded milling facilities was 121.4 million lb of copper and 1.5 million lb of molybdenum in 2013. Taseko had revenues for 2013 of $290.1 million from the sale of 85.4 million lb of copper and 0.9 million lb of moly (reflecting Taseko's...


and expanded milling facilities was 121.4 million lb of copper and 1.5 million lb of molybdenum in 2013. Taseko had revenues for 2013 of $290.1 million from the sale of 85.4 million lb of copper and 0.9 million lb of moly (reflecting Taseko’s 75% interest in the Gibraltar operation).

Still, Taseko took a loss for last year. Net losses were $32.8 million or$0.18 per share, compared to a loss of $9.1 million in 2012.

Net operating costs declined throughout 2013 to US$1.70 per lb of copper, a 26% drop from 2012.

With no major capital expenditures on the horizon this year, Taseko president and CEO Russ Hallbauer promised shareholders that cash flow should increase significantly.

Visit TasekoMines.com for complete details.