Taseko Mines reports 35M pounds of copper produced in Q3 in Gibraltar Mine

Taseko Mines announced that the Gibraltar Mine produced 35M pounds of copper and 369,000 pounds of molybdenum in the Q3 on a 100% basis. Stuart McDonald, President and CEO of Taseko, commented, “The 25% quarter-over-quarter increase in copper production was a result of higher grades, improved recoveries and increased mill throughput. Mining in the Gibraltar pit is progressing on plan and the lower benches are providing the ore quality we expected. Molybdenum grades have also increased as mining has progressed deeper into the Gibraltar pit, resulting in a 60% increase in quarterly molybdenum production.” A port workers strike in early July caused shipping delays and a build-up of Gibraltar copper concentrate inventory. As a result, Q3 sales volumes lagged production by three million pounds, and the excess inventory is expected to be shipped and sold in the Q4.