Taseko Mines announces 30% increase in quarterly copper production

theflyonthewall.com

Taseko announces Q3 production of 36.7M pounds of copper and 284,000 pounds of molybdenum at its 75% owned Gibraltar Mine. Total sales for the quarter were 26.7M pounds of copper and 110,000 pounds of molybdenum. The reduced copper sales were a result of a vessel delay at the end of the quarter, resulting in a carry-over of 13.6M pounds of copper inventory, which will be included in Q4 sales. Russell Hallbauer, CEO of Taseko, commented, "Optimization of the grinding circuits continued in Q3, as evidenced by the 30% increase in copper production. Mill availability increased from 83% in Q2 to 87% in Q3. There still remain significant opportunities for further mill throughput increases as we move toward the target availability of 93.5%. Copper production in Q3 also benefitted from improved recoveries as well as higher head grade."

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