Taseko Mines (TSE:TKO) has released an update.
Taseko Mines Limited has announced the complete acquisition of Gibraltar Mine by purchasing the remaining 12.5% stake from Dowa Metals & Mining Co., Ltd. and Furukawa Co., Ltd., resulting in a 14% increase in their attributable copper production. The deal involves a minimum $117 million payment spread over ten years, plus contingent payments tied to copper prices and mine cashflow, with initial and annual payments starting after closing and extending to 2034. This strategic move is set to boost Taseko’s cashflow and expand its copper production capacity in North America.
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