Taseko Mines (TSE:TKO) has released an update.
Taseko Mines Limited has struck a deal to buy the remaining 12.5% stake in the Gibraltar Mine, thus gaining full ownership and increasing their attributable copper production by 14%. The $117 million acquisition from Dowa Metals & Mining Co., Ltd. and Furukawa Co., Ltd. is set to be paid over ten years, with additional payments contingent on copper prices and mine cashflow. This strategic move consolidates Taseko’s copper off-take rights and is expected to immediately contribute to the company’s cashflow, bolstering its North American copper production profile.
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