Copper miner Taseko Mines said on Monday that its fourth-quarter sales volumes would be “significantly” below its copper production for the period and that it would sell any excess inventory at year-end in the first quarter of 2022.
While the recent flooding in southern British Columbia has not impacted production at Gibraltar it has damaged rail and highway infrastructure, preventing the transportation of copper concentrate to the Port of Vancouver over the last two weeks.
Taseko reported that the rail service was resuming and that it would gradually return to normal.
The company's copper production guidance for the full year is 120-million pounds.
Meanwhile, the miner also announced that its unionised workforce at Gibraltar had ratified a new, long-term labour agreement. The new agreement would be in place until May 31, 2024.
President and CEO Stuart McDonald thanked all parties involved for their commitment to the collective bargaining process.
“We believe the agreement reached this month will set the stage for successful operations at Gibraltar for years to come, with resulting benefits for all Taseko stakeholders, including our employees and the people and communities of the Cariboo region."