BRITISH COLUMBIA -The board of Vancouver's Taseko Mines has approved spending to boost production by 30,000 t/d at its Gibraltar copper-molybdenum mine by building a second concentrator at the site. The original concentrator treats 55,000 t/d.
Capital costs for the expansion are expected to be $235 million for the mill and a new moly recovery facility plus $90 million for new mining equipment.
The company said the additional capacity will increase annual copper production at Gibraltar by 60 million lb to 180 million lb at life-of-mine average grade. Moly production will rise by more than 1.0 million lb/y.
Taseko said it wants to move quickly to take advantage of record high copper prices. Construction will begin in early spring and commissioning is anticipated in Q4 2012.
Go-ahead for the project also requires the co-operation of Taseko's 25% Gibraltar joint venture partner, Cariboo Copper Corp., and the parties are now in discussions to this end.
Pictures of the previous Gibraltar mill expansion can be viewed at www.TasekoMines.com.