COPPER EXPANSION: Gibraltar mine, mill increase on track for year-end start

BRITISH COLUMBIA - The expansion of the Gibraltar copper-molybdenum mine and mill to 185 million lb of copper annually is on track for completion by the end of 2012. The project, located 65 km north of Williams Lake, is owned by Taseko Mines (75%) and Cariboo Copper Corp. (25%).

Taseko president and CEO Russell Hallbauer said this year's capital budget for the expansion is $134 million of the total $235-million budget (excluding mining equipment). A second concentrator with a capacity of 30,000 t/d is being built to bring total capacity to 55,000 t/d.

Taseko also has commitments at two development projects. The company plans to spend a further $31 million at its wholly owned Aley niobium project and its New Prosperity gold-copper project.

Learn about all three projects at TasekoMines.com.