Taseko Mines buys shares in Gibraltar copper-molybdenum mine

Canadian miner Taseko Mines has bought shares in the Gibraltar mine. Photo by Taseko Mines

New deal Canadian miner Taseko Mines Limited has unveiled that it has entered into a definitive agreement to purchase the remaining 12.5% interest in the Gibraltar copper-molybdenum mine from Dowa Metals & Mining Co. Ltd.  and Furukawa Co. Ltd. 


“Under the terms of the Agreement, Taseko will acquire Dowa and Furukawa’s shares in Cariboo Copper Corp … and will then own 100% of Cariboo shares and have an effective 100% interest in the Gibraltar Mine,” the miner said in a statement.


Stuart McDonald, the president and CEO of Taseko Mines, commented that the company is “happy to once again own 100% of the Gibraltar mine, our foundational asset, which will continue to generate strong returns for the Company for many years to come.  This acquisition provides 14% growth in our attributable copper production, and is immediately cashflow accretive as we advance construction at our Florence Copper Project.”