Welcome to our dedicated page for Taseko Mines news (Ticker: TGB), a resource for investors and traders seeking the latest updates and insights on Taseko Mines stock.
Taseko Mines Limited (TGB) is a Canadian mining company, renowned for its pioneering role in North America's mining sector. Primarily engaged in the production and sale of metals, Taseko operates several key mining properties within British Columbia, Canada, and Arizona, USA. The company is best known for its 75% ownership of the Gibraltar Mine, the second largest open-pit copper-molybdenum mine in Canada, which is also the largest employer in the Cariboo Region.
Acquired in 1999, the Gibraltar Mine has undergone significant expansion and modernization, transforming from a facility set for demolition to one with a processing capacity of 85,000 tons of ore per day and an annual copper production of 180 million pounds. The mine's revitalization is a testament to Taseko's commitment to sustainable growth and innovation in mining practices.
In addition to the Gibraltar Mine, Taseko's notable projects include:
- Florence Copper Project in Arizona: A low-cost, environmentally-friendly copper production facility expected to commence operations by Q4 2025.
- Yellowhead Copper Project in British Columbia: A long-life project with significant copper, gold, and silver reserves, currently in the environmental assessment phase.
- New Prosperity Gold-Copper Project: A project under negotiation with the Tŝilhqot'in Nation for a long-term resolution to its development.
- Aley Niobium Project: Focused on niobium production for industrial applications, particularly in the growing market for niobium-based batteries.
Financially, Taseko has demonstrated robust performance with notable achievements such as:
- Full year 2023 adjusted EBITDA of $190 million and earnings from mining operations before depletion and amortization of $207 million.
- A significant increase in effective interest in the Gibraltar Mine from 75% to 87.5% in March 2023, and further to 100% in March 2024.
- Successful refinancing of senior secured notes extending maturity to 2030, enhancing financial flexibility.
Recent developments highlight Taseko's proactive approach to growth and stability:
- Gibraltar Mine's production of 34 million pounds of copper and 369 thousand pounds of molybdenum in Q4 2023, exceeding guidance.
- Definitive agreement with Taurus Mining Royalty Fund for a US$50 million royalty to finance the Florence Copper project's construction.
- Strategic acquisition of the remaining 12.5% interest in the Gibraltar Mine, achieving full ownership.
- Commencement of a US$500 million Senior Secured Notes offering to support capital expenditures at Gibraltar and Florence Copper projects.
Taseko Mines Limited is strategically positioned to capitalize on the increasing demand for copper, driven by global electrification trends and infrastructure investments. The company's commitment to sustainable mining practices and its robust project pipeline underscore its potential for long-term value creation.
Taseko Mines Limited (TSX: TKO, NYSE: TGB) will announce its first quarter financial results on May 4, 2022, after market close. A conference call will be held on May 5, 2022, at 11:00 a.m. ET, for management to discuss the results, followed by a Q&A session with analysts and investors. Participants can access the call via phone or the company’s [website](https://www.tasekomines.com/investors/events). An archived playback will be available until May 19, 2022.
Taseko Mines Limited (TGB) announced a significant 40% increase in the proven and probable sulphide reserves at its Gibraltar Mine, now totaling 706 million tons. This expansion extends the mine's operational lifespan to 23 years, with recoverable resources of 3.0 billion pounds of copper and 53 million pounds of molybdenum. The mine is expected to produce approximately 129 million pounds of copper annually. The after-tax NPV8 is estimated at $1.1 billion, and free cash flow projected at $2.3 billion based on a long-term copper price of US$3.50 per pound.
Taseko Mines Limited (TGB) has renewed its Participation and Cooperation Agreement with the Williams Lake First Nation (WLFN), originally established in April 2013. The renewed agreement aims to foster environmentally responsible and economically beneficial mine development at the Gibraltar Mine in British Columbia. It emphasizes enhanced communication, employment opportunities for WLFN members, and community development initiatives. The signing ceremony took place on February 24, 2022. Taseko's CEO, Stuart McDonald, expressed optimism about the partnership, which aims to support both economic and social interests of the WLFN community.
Taseko Mines Limited (TSX: TKO; NYSE American: TGB) reported strong full-year 2021 results, with Adjusted EBITDA hitting $201 million, an 85% increase over 2020. Revenues reached $433 million, marking a 26% rise. However, fourth-quarter performance faced challenges due to severe weather disruptions, affecting copper sales, which totaled 23.8 million pounds. Despite these challenges, Taseko anticipates a production of 115 million pounds of copper in 2022, with over 90% of production hedged at a minimum price of US$4.00 per pound. The company maintains a strong liquidity position with roughly $300 million available.
Taseko Mines Limited (TSX: TKO) (NYSE: TGB) will announce its year-end 2021 financial and production results on February 22, 2022, after market close. A conference call is scheduled for February 23, 2022, at 11:00 a.m. Eastern Time to discuss these results, which will include a Q&A session for analysts and investors. Access to the call can be made by dialing specific numbers for Canada, the U.S., and the U.K., or through their website. The call will be archived until March 9, 2022.
Taseko Mines Limited (TGB) reported 2021 copper production of 112 million pounds from the Gibraltar Mine, with sales of 105 million pounds. Fourth-quarter production reached 29 million pounds. The company faced challenges due to infrastructure disruptions from severe weather but managed 24 million pounds in copper sales in the fourth quarter. Production was affected by lower ore grades but is expected to improve as mining progresses. With copper prices exceeding US$4.50 per pound, Taseko anticipates strong operating margins.
Taseko Mines Limited (TGB) announced the ratification of a new long-term labor agreement at its Gibraltar Mine, effective until May 31, 2024. CEO Stuart McDonald expressed optimism that this agreement will enhance operational success and benefit stakeholders. Despite recent flooding in British Columbia, production remains unaffected, although transportation disruptions have delayed shipments of copper concentrate to Vancouver. The company anticipates lower sales volumes for Q4 2021, with excess inventory expected to be sold in early 2022.
Taseko Mines Limited (TGB) announced on November 22, 2021, that the US EPA has provided an initial draft of the Underground Injection Control Permit for its Florence Copper Project in Arizona. The Company's technical team will review the permit wording over the next two weeks, after which a public comment period is expected. CEO Stuart McDonald stated that detailed engineering is well advanced, and they are poised for construction upon the final permit issuance, emphasizing that the project will have a minimal environmental footprint.
Taseko Mines Limited (TSX: TKO, NYSE American: TGB) reported a strong performance for Q3 2021, with revenues of $132.6 million, a 171% increase in adjusted net income to $27 million ($0.10 per share), and Adjusted EBITDA rising 60% to $76.3 million. The Gibraltar Mine produced 34.5 million pounds of copper, showing a 29% quarter-over-quarter increase. The company anticipates 120 million pounds of copper production for the year, maintaining a strong cash position of $239 million and approximately $300 million in available liquidity.
Taseko Mines Limited (TGB) announced its plans to release third quarter 2021 financial results on November 3, 2021, after the market closes. A conference call and live webcast to discuss the results will be held on November 4, 2021, at 11:00 a.m. ET. Interested parties can access the call via phone or online through the company's investor events page. The call will include a Q&A session for analysts and investors. The playback will be available until November 18, 2021.
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