Canadian copper-molybdenum miner expands production

Photo: Taseko Mines

Output on the rise Canadian miner Taseko Mines has reported im-prove production at its Gibraltar copper-molybdenum mine which pro-duced 27 million pounds of copper and 400 thousand pounds of mo-lybdenum in the second quarter of 2021.


“In June, mining operations transitioned into higher-grade benches in the Pollyanna Pit which resulted in a 20% increase in copper produc-tion over the first quarter, in line with management expectations,” the miner said in a statement.


Stuart McDonald, the president and chief executive of Taseko Mines, said that the business continues “to expect strong copper production in the second half of the year, which in the current price environment will lead to robust cashflows. Copper prices remained strong over the second quarter, and the average LME price of US$4.40 per pound is the highest ever for a quarterly period.”


Taseko's is the majority owner, with a 75 percent stake, and operator of the Gibraltar mine, located in south-central British Columbia. The company says that Gibraltar is Canada’s second largest open pit cop-per mine.