Taseko Mines reports Q2 copper production, Gibraltar mine operational update

Taseko Mines announced Q2 production results of 20 million pounds of copper and 185,000 pounds of molybdenum. Metal production in Q2 was impacted by mill downtime for the relocation of the in-pit crusher and concurrent maintenance activities in concentrator #1, as well as a strike by the mine’s unionized workforce in June. The in-pit crusher move was completed in late May but the final installation work and the other mill maintenance was interrupted by the 18-day strike in June. This work resumed following the strike, when contractors were able to return to site, and is now completed. Insurance proceeds of $22M are expected to be received in Q3. CEO Stuart McDonald commented, “Production in the second half of 2024 is expected to be stronger with the major project and maintenance work in both concentrators completed. An updated mine plan and mill throughput opportunities are being evaluated to recover some of the production that was lost during the strike. Copper production for the year is expected to be in the range of 110 to 115 million pounds, compared to original guidance of 115 million pounds.”