Taseko Mines reports positive results for 2023

Taseko Mines has reported positive financial results. Photo by Taseko Mines

Positive results Canadian miner Taseko Mines Limited has announced that  its revenues for 2023 were $525 million, up 34% compared with the prior year owing to improved copper production and an increase in the firm’s effective interest in the Gibraltar Mine, from 75% to 87.5%, in March 2023.  


Stuart McDonald, the president and CEO of Taseko Mines, commented in a statement that the “Gibraltar Mine finished a successful year with another strong production quarter. The lower benches of the Gibraltar pit continued to deliver the quality ore we expected, with copper grades averaging 0.27% for the period.” 


“This resulted in strong earnings and $63 million of operating cash flow in the fourth quarter.  For the full year 2023, the average copper grade was 0.25%, which is in line with Gibraltar’s life of mine reserve grade, and led to significantly improved copper production and financial performance compared to 2022,” he said.