BRITISH COLUMBIA – TASEKO MINES of Vancouver, which resumed copper-molybdenum mining at the Gibraltar mine near Williams Lake in October 2004, says the property exceeded its first quarter molybdenum production target by 11%, producing 223,000 lb of moly in concentrate. Copper production was on-target at 13.4 million lb in concentrate. Average realized prices were US$1.88/lb for copper and US$22.45/lb for molybdenum.
Taseko is looking at ways to expand mill capacity by 25% to increase revenue and reduce operating costs. It has commissioned a mill expansion study, to be completed in March. The company says it will also consider building a copper refinery at Gibraltar.
The complete Feb. 15 press release can be read at www.TasekoMines.com.