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COPPER: Gibraltar output up 30% for quarter

BRITISH COLUMBIA – With the recent completion of the second concentrator at the Gibraltar copper-molybdenum project, 75% owner Taseko Mines of Vancouver said that Q3 output was up 30% this year compared to a year earlier. Gibraltar...



BRITISH COLUMBIA – With the recent completion of the second concentrator at the Gibraltar copper-molybdenum project, 75% owner Taseko Mines of Vancouver said that Q3 output was up 30% this year compared to a year earlier. Gibraltar produced 36.7 million lb of copper and 284,000 lb of molybdenum.

No only was throughput up, but mill availability increased to 87% in Q3 from 83% in Q2. There remain opportunities to further increase output by achieving targeted availability of 93.5%.

Taseko president Russ Hallbauer said in a release, “In the last 12 months, copper production has increased from 21 million pounds per quarter to our latest results of 36.7 million pounds. This 71% increase in production is the direct result of the company’s disciplined capital spending and execution strategy.”

Total sales for the quarter were 26.7 million lb of copper and 110,000 lb of moly (100% basis). Copper sales were somewhat reduced as a result of a vessel delay at the end of the quarter, resulting in a carry-over of 13.6 million lb Cu inventory (100% basis), which will be included in fourth quarter sales.

The Gibraltar mine is owned by Taseko and Cariboo Copper Corp. (25%). Please visit TasekoMines.com.


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