Taseko Announces 2024 Production Results
Taseko Mines reports its 2024 production results from the Gibraltar copper mine, achieving 106 million pounds of copper and 1.4 million pounds of molybdenum production. Sales volumes matched production at 108 million pounds of copper and 1.4 million pounds of molybdenum.
The company completed a transaction with Osisko Gold Royalties to increase its Gibraltar silver stream agreement from 87.5% to 100%, receiving an additional US$12.7 million in cash. Following major maintenance activities in July, mill operations improved significantly, with throughput averaging over 89,000 tons per day in Q4 2024, 5% above design capacity, producing 29 million pounds of copper.
Looking forward to 2025, Taseko projects increased annual copper production of 120-130 million pounds, with production expected to be concentrated in the second half of the year.
Taseko Mines ha riportato i risultati di produzione 2024 dalla miniera di rame di Gibraltar, raggiungendo 106 milioni di libbre di rame e 1,4 milioni di libbre di produzione di molibdeno. I volumi di vendita hanno corrisposto alla produzione con 108 milioni di libbre di rame e 1,4 milioni di libbre di molibdeno.
L'azienda ha completato una transazione con Osisko Gold Royalties per aumentare il suo accordo di flusso d'argento di Gibraltar dall'87,5% al 100%, ricevendo ulteriori 12,7 milioni di dollari USA in contanti. Dopo importanti attività di manutenzione a luglio, le operazioni del mulino sono migliorate significativamente, con un throughput medio di oltre 89.000 tonnellate al giorno nel quarto trimestre del 2024, superiore del 5% alla capacità prevista, producendo 29 milioni di libbre di rame.
Guardando al 2025, Taseko prevede di aumentare la produzione annuale di rame a 120-130 milioni di libbre, con la produzione prevista concentrata nella seconda metà dell'anno.
Taseko Mines informa sobre sus resultados de producción 2024 de la mina de cobre Gibraltar, alcanzando 106 millones de libras de cobre y 1,4 millones de libras de producción de molibdeno. Los volúmenes de ventas coincidieron con la producción en 108 millones de libras de cobre y 1,4 millones de libras de molibdeno.
La compañía completó una transacción con Osisko Gold Royalties para aumentar su acuerdo de flujo de plata de Gibraltar del 87,5% al 100%, recibiendo 12,7 millones de dólares en efectivo. Tras importantes actividades de mantenimiento en julio, las operaciones del molino mejoraron significativamente, con un rendimiento promedio de más de 89.000 toneladas por día en el cuarto trimestre de 2024, un 5% por encima de la capacidad de diseño, produciendo 29 millones de libras de cobre.
De cara a 2025, Taseko proyecta un aumento en la producción anual de cobre de 120-130 millones de libras, con la producción prevista para concentrarse en la segunda mitad del año.
타세코 마인스는 지바르타 구리 광산의 2024년 생산 결과를 보고하며, 1억 6백만 파운드의 구리와 140만 파운드의 몰리브데넘을 생산했다고 전했습니다. 판매량은 구리 1억 8백만 파운드 및 몰리브데넘 140만 파운드의 생산과 일치했습니다.
회사는 오시스코 골드 로열티와의 거래를 완료하여 지바르타 은 스트림 계약을 87.5%에서 100%로 늘리며 추가로 1270만 달러를 현금으로 받았습니다. 7월에 주요 유지보수 작업 이후, 제철소 운영이 크게 개선되었으며, 2024년 4분기에는 평균 89,000톤/일의 처리량을 기록하였고, 설계 용량보다 5% 높은 이량으로 2900만 파운드의 구리를 생산했습니다.
2025년을 바라보며, 타세코는 연간 구리 생산량이 1억 2천~1억 3천만 파운드로 증가할 것으로 예상하며, 생산은 하반기에 집중될 것으로 보입니다.
Taseko Mines annonce ses résultats de production pour 2024 de la mine de cuivre de Gibraltar, atteignant 106 millions de livres de cuivre et 1,4 million de livres de molybdène. Les volumes de vente ont égalé la production avec 108 millions de livres de cuivre et 1,4 million de livres de molybdène.
L'entreprise a finalisé une transaction avec Osisko Gold Royalties pour augmenter son accord sur le flux d'argent de Gibraltar de 87,5 % à 100 %, recevant 12,7 millions de dollars américains en espèces. À la suite d'importantes activités de maintenance en juillet, les opérations du moulin se sont considérablement améliorées, avec un débit moyen de plus de 89 000 tonnes par jour au quatrième trimestre 2024, soit 5 % au-dessus de la capacité de conception, produisant 29 millions de livres de cuivre.
En prévision de 2025, Taseko prévoit une augmentation de la production annuelle de cuivre à 120-130 millions de livres, avec une concentration de la production attendue dans la seconde moitié de l'année.
Taseko Mines berichtet über seine Produktionszahlen 2024 aus der Kupfermine Gibraltar, mit einer Produktion von 106 Millionen Pfund Kupfer und 1,4 Millionen Pfund Molybdän. Die Verkaufszahlen entsprechen der Produktion mit 108 Millionen Pfund Kupfer und 1,4 Millionen Pfund Molybdän.
Das Unternehmen hat eine Transaktion mit Osisko Gold Royalties abgeschlossen, um seine Silberstromvereinbarung für Gibraltar von 87,5% auf 100% zu erhöhen und erhielt zusätzlich 12,7 Millionen US-Dollar in bar. Nach umfangreichen Wartungsarbeiten im Juli verbesserten sich die Mühlenoperationen erheblich, mit einer durchschnittlichen Durchsatzmenge von über 89.000 Tonnen pro Tag im vierten Quartal 2024, was 5% über der geplanten Kapazität liegt, wodurch 29 Millionen Pfund Kupfer produziert wurden.
Für 2025 rechnet Taseko mit einer Steigerung der jährlichen Kupferproduktion von 120-130 Millionen Pfund, wobei die Produktion in der zweiten Jahreshälfte konzentriert sein soll.
- Q4 mill throughput exceeded design capacity by 5%
- Received US$12.7 million cash from silver stream amendment
- Projected 2025 copper production increase to 120-130 million pounds
- Mill operations showing improved performance post-maintenance
- Production weighted toward second half of 2025 indicates weaker first half performance
Insights
The Gibraltar mine's 2024 performance reveals important operational dynamics. The 106 million pounds of copper production, while solid, indicates room for improvement compared to the projected 120-130 million pounds for 2025. The Q4 mill throughput of 89,000 tons per day, exceeding design capacity by
The consolidation of silver stream ownership to
The production figures and strategic moves position Taseko favorably in the current metals market landscape. The 29 million pounds of copper production in Q4 2024 demonstrates operational momentum. The molybdenum output of 1.4 million pounds provides valuable revenue diversification, especially important given molybdenum's critical role in steel production and industrial applications.
The anticipated
VANCOUVER, British Columbia, Jan. 09, 2025 (GLOBE NEWSWIRE) -- Taseko Mines Limited (TSX: TKO; NYSE American: TGB; LSE: TKO) ("Taseko" or the "Company") announces 2024 production from its
In late December, the Company closed a transaction with Osisko Gold Royalties to amend the Gibraltar silver steam agreement, increasing the attributable silver percentage from
Stuart McDonald, President & CEO of Taseko, commented, “Since completion of the planned major maintenance activities in July, milling operations at Gibraltar have been running smoothly. Mill throughput averaged over 89,000 tons per day in the fourth quarter,
“The silver stream amendment follows our acquisition of the remaining
For further information on Taseko, see the Company’s website at tasekomines.com or contact:
Investor enquiries Brian Bergot, Vice President, Investor Relations – 778-373-4554
Stuart McDonald
President and CEO
No regulatory authority has approved or disapproved of the information contained in this news release.
Caution Regarding Forward-Looking Information
This document contains “forward-looking statements” that were based on Taseko’s expectations, estimates and projections as of the dates as of which those statements were made. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as “outlook”, “anticipate”, “project”, “target”, “believe”, “estimate”, “expect”, “intend”, “should” and similar expressions.
Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. These included but are not limited to:
- uncertainties about the future market price of copper and the other metals that we produce or may seek to produce;
- changes in general economic conditions, the financial markets, inflation and interest rates and in the demand and market price for our input costs, such as diesel fuel, reagents, steel, concrete, electricity and other forms of energy, mining equipment, and fluctuations in exchange rates, particularly with respect to the value of the U.S. dollar and Canadian dollar, and the continued availability of capital and financing;
- uncertainties resulting from the war in Ukraine, and the accompanying international response including economic sanctions levied against Russia, which has disrupted the global economy, created increased volatility in commodity markets (including oil and gas prices), and disrupted international trade and financial markets, all of which have an ongoing and uncertain effect on global economics, supply chains, availability of materials and equipment and execution timelines for project development;
- inherent risks associated with mining operations, including our current mining operations at Gibraltar, and their potential impact on our ability to achieve our production estimates;
- uncertainties as to our ability to control our operating costs, including inflationary cost pressures at Gibraltar without impacting our planned copper production;
- the risk of inadequate insurance or inability to obtain insurance to cover material mining or operational risks;
- uncertainties related to the feasibility study for Florence copper project (the “Florence Copper Project” or “Florence Copper”) that provides estimates of expected or anticipated capital and operating costs, expenditures and economic returns from this mining project, including the impact of inflation on the estimated costs related to the construction of the Florence Copper Project and our other development projects;
- the risk that the results from our operations of the Florence Copper production test facility (“PTF”) and ongoing engineering work including updated capital and operating costs will negatively impact our estimates for current projected economics for commercial operations at Florence Copper;
- uncertainties related to the accuracy of our estimates of Mineral Reserves (as defined below), Mineral Resources (as defined below), production rates and timing of production, future production and future cash and total costs of production and milling;
- the risk that we may not be able to expand or replace reserves as our existing mineral reserves are mined;
- the availability of, and uncertainties relating to the development of, additional financing and infrastructure necessary for the advancement of our development projects, including with respect to our ability to obtain any remaining construction financing potentially needed to move forward with commercial operations at Florence Copper;
- our ability to comply with the extensive governmental regulation to which our business is subject;
- uncertainties related to our ability to obtain necessary title, licenses and permits for our development projects and project delays due to third party opposition;
- our ability to deploy strategic capital and award key contracts to assist with protecting the Florence Copper project execution plan, mitigating inflation risk and the potential impact of supply chain disruptions on our construction schedule and ensuring a smooth transition into construction;
- uncertainties related to First Nations claims and consultation issues;
- our reliance on rail transportation and port terminals for shipping our copper concentrate production from Gibraltar;
- uncertainties related to unexpected judicial or regulatory proceedings;
- changes in, and the effects of, the laws, regulations and government policies affecting our exploration and development activities and mining operations and mine closure and bonding requirements;
- our dependence solely on Gibraltar (as defined below) for revenues and operating cashflows;
- our ability to collect payments from customers, extend existing concentrate off-take agreements or enter into new agreements;
- environmental issues and liabilities associated with mining including processing and stock piling ore;
- labour strikes, work stoppages, or other interruptions to, or difficulties in, the employment of labour in markets in which we operate our mine, industrial accidents, equipment failure or other events or occurrences, including third party interference that interrupt the production of minerals in our mine;
- environmental hazards and risks associated with climate change, including the potential for damage to infrastructure and stoppages of operations due to forest fires, flooding, drought, or other natural events in the vicinity of our operations;
- litigation risks and the inherent uncertainty of litigation, including litigation to which Florence Copper could be subject to;
- our actual costs of reclamation and mine closure may exceed our current estimates of these liabilities;
- our ability to meet the financial reclamation security requirements for the Gibraltar mine and Florence Project;
- the capital intensive nature of our business both to sustain current mining operations and to develop any new projects, including Florence Copper;
- our reliance upon key management and operating personnel;
- the competitive environment in which we operate;
- the effects of forward selling instruments to protect against fluctuations in copper prices, foreign exchange, interest rates or input costs such as fuel; and
- the risk of changes in accounting policies and methods we use to report our financial condition, including uncertainties associated with critical accounting assumptions and estimates; and Management Discussion and Analysis (“MD&A”), quarterly reports and material change reports filed with and furnished to securities regulators, and those risks which are discussed under the heading “Risk Factors”.
For further information on Taseko, investors should review the Company’s annual Form 40-F filing with the United States Securities and Exchange Commission www.sec.gov and home jurisdiction filings that are available at www.sedarplus.ca, including the “Risk Factors” included in our Annual Information Form.
FAQ
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