Positive results Canadian miner Taseko Mines Limited has announced that its revenues for 2023 were $525 million, up 34% compared with the prior year owing to improved copper production and an increase in the firm’s effective interest in the Gibraltar Mine, from 75% to 87.5%, in March 2023.
Stuart McDonald, the president and CEO of Taseko Mines, commented in a statement that the “Gibraltar Mine finished a successful year with another strong production quarter. The lower benches of the Gibraltar pit continued to deliver the quality ore we expected, with copper grades averaging 0.27% for the period.”
“This resulted in strong earnings and $63 million of operating cash flow in the fourth quarter. For the full year 2023, the average copper grade was 0.25%, which is in line with Gibraltar’s life of mine reserve grade, and led to significantly improved copper production and financial performance compared to 2022,” he said.