New deal Canadian miner Taseko Mines Limited has unveiled that it has entered into a definitive agreement to purchase the remaining 12.5% interest in the Gibraltar copper-molybdenum mine from Dowa Metals & Mining Co. Ltd. and Furukawa Co. Ltd.
“Under the terms of the Agreement, Taseko will acquire Dowa and Furukawa’s shares in Cariboo Copper Corp … and will then own 100% of Cariboo shares and have an effective 100% interest in the Gibraltar Mine,” the miner said in a statement.
Stuart McDonald, the president and CEO of Taseko Mines, commented that the company is “happy to once again own 100% of the Gibraltar mine, our foundational asset, which will continue to generate strong returns for the Company for many years to come. This acquisition provides 14% growth in our attributable copper production, and is immediately cashflow accretive as we advance construction at our Florence Copper Project.”