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Taseko Mines Limited reports recurring operating and financial developments from its North America-focused copper mining business. Company news centers on the Gibraltar Mine in British Columbia, including copper and molybdenum production, mill throughput, grades, recoveries, operating costs and sales volumes.
Updates also cover Florence Copper in Arizona, where the company produces copper cathode through in-situ copper recovery and SX/EW processing. Additional recurring themes include quarterly and annual results, copper market commentary, project work at Yellowhead and New Prosperity, environmental assessment activity, mine development milestones and financing-related operating updates.
Taseko Mines (TSX: TKO, NYSE MKT: TGB, LSE: TKO) released its 2023 Sustainability Report, titled H20 + ESG. The report details the Company's sustainability milestones at the Gibraltar Mine, including a significant 77% reduction in free water stored in the mine’s tailings storage facility over the past decade, thanks to innovative water management strategies. Additionally, it highlights contributions from the Florence Copper project in Arizona, soon to be Taseko’s second operating asset. President and CEO Stuart McDonald emphasized the importance of water conservation and the contributions of employees and partners in achieving these goals. The full report and a related video are available online.
Taseko Mines (TSX: TKO, NYSE MKT: TGB, LSE: TKO) has ratified a new labor agreement for its Gibraltar Mine, effective until May 31, 2027.
Workers have been recalled, and mining operations along with milling in concentrator #2 are resuming. However, concentrator #1 remains idle due to ongoing crusher relocation and scheduled maintenance.
This development marks a significant step for Taseko Mines in ensuring operational stability and continuity at Gibraltar Mine.
Taseko Mines (TSX: TKO, NYSE MKT: TGB, LSE: TKO) announced a tentative labour agreement with the unionized workforce at its Gibraltar Mine. The agreement awaits ratification by union members, with voting scheduled for Monday and Tuesday. If ratified, operations are expected to resume on Wednesday. This development is important for maintaining operational continuity and productivity at Gibraltar Mine.
Taseko Mines (TSX: TKO, NYSE American: TGB, LSE: TKO) disclosed the voting results from its 2024 Annual General Meeting held on June 13, 2024, in Vancouver.
A total of 153,248,875 common shares were voted, representing 52.6% of all outstanding shares. Shareholders approved all business items, including the Amendment and Continuation of the Share Option Plan, the Continuation of the Performance Share Unit Plan, and the Advisory Resolution on executive compensation. All director nominees were elected, with Rita Maguire and Stuart McDonald receiving the highest approval at 98.7% each.
Detailed results are available on SEDAR. This announcement has not been approved or disapproved by any regulatory authority.
On June 1, 2024, Taseko Mines announced the suspension of operations at its Gibraltar Mine due to a failure in collective bargaining with union representatives. The unionized workforce plans to strike as of midnight, May 31, 2024. Consequently, Taseko proactively shut down mining and milling operations, placing the mine on care and maintenance with only essential staff maintaining critical systems. Taseko remains committed to achieving a fair agreement through continued bargaining efforts.
Taseko Mines reported first quarter 2024 Adjusted EBITDA of $50 million, with revenues of $147 million and net income of $19 million. Gibraltar mine produced 30 million pounds of copper and 247 thousand pounds of molybdenum. The acquisition of the remaining 12.5% interest in Gibraltar provides cashflow and cost savings. Florence Copper construction is progressing well. The Company refinanced its senior secured notes for financial flexibility.
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