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Gibraltar copper output rises 25% q/q

5th October 2023

By: Creamer Media Reporter

     

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Production at the Gibraltar mine, in British Columbia, has improved by 25% quarter-on-quarter to 35-million pounds, Toronto-listed Taseko Mines reported on Wednesday.

The higher quarterly production was the result of higher grades, improved recoveries and increased mill throughput, president and CEO Stuart McDonald said in a statement.

“Mining in the Gibraltar pit is progressing on plan and the lower benches are providing the ore quality we expected,” he said.

Gibraltar also produced 369 000 lb of molybdenum in the third quarter.

McDonald said molybdenum grades also increased as mining progressed deeper into the Gibraltar pit, resulting in a 60% increase in quarterly molybdenum production.

A port workers' strike in early July caused shipping delays and a build-up of Gibraltar copper concentrate inventory. As a result, third-quarter sales volumes lagged production by three-million pounds, and the excess inventory is expected to be shipped and sold in the fourth quarter.

Edited by Creamer Media Reporter

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