Taseko Mines, with its Gibraltar mine in British Columbia, has reported a stronger-than-anticipated copper output for the full year, underpinned by a robust fourth-quarter performance. The mine produced 34 million pounds of copper and 369,000 pounds of molybdenum in the last quarter of the year.
For the entire year, Gibraltar mine’s production reached 123 million pounds of copper, significantly exceeding the guidance. This output marks a 26% increase compared to the previous year, showcasing the mine’s enhanced production capacity.
The copper grades at the Gibraltar mine in the fourth quarter were recorded at 0.27%. The mill throughput averaged 83,000 metric tons per day. However, this performance was somewhat offset by additional downtime required for maintenance and monitoring of the ball mill in one of the concentrators.
Looking ahead, Chief Executive Stuart McDonald expressed optimism for continued strong performance in 2024. The Gibraltar pit, serving as the main source of ore, is expected to maintain its production momentum in the first half of the year. This sustained output from the pit is anticipated to support the company’s growth objectives in the coming year.
Taseko Mines’ performance in 2023, particularly its year-end production figures, sets a positive tone for its operational outlook in 2024, as the company continues to capitalize on the productive capacity of the Gibraltar mine.