Taseko Mines with 100% shares in the Gibraltar Mine

28th March 2024 Taseko Mines with 100% shares in the Gibraltar Mine

Full control

Taseko Mines Limited in a press release has informed that it acquired the remaining 12.5% shares in the Gibraltar Mine from Dowa Metals & Mining and Furukawa Co. Ltd. The acquisition price is a minimum of CAD 117 million which will be payable over ten years and potential contingent payments depending on copper prices and Gibraltar’s cashflow. The initial payment of a total of CAD 5 million will be paid to Dowa and Furukawa (each company will have an equal share) shortly following closing. The remaining amount will be settled with annual payments commencing in March 2026.

Positive relationship

Stuart McDonald after the agreement has stated: “We are 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.”

He has also highlighted the good relationship between Taseko, Dowa Metals, and Furukawa: “We have established a positive relationship with Dowa and Furukawa over the last 14 years. Given that both groups are reducing their copper smelting businesses and are exiting their copper mining investments, we’ve been able to structure this exit from our long-term partnership in a mutually beneficial manner.”

Gibraltar Mine

In 2023, the mine produced a total of 122.6 million pounds of copper. It has a processing capacity of 85,000 tons per day and life of mine average annual copper production of 130 million pounds. The company will support copper and molybdenum production until at least 2044.

Next WMC Congress

World Mining Congress

2026

The 27th World Mining Congress will be organized in 2026 in Peru.

Learn more
27th
Next IOC Meeting

IOC / WMC Meeting

2024

The 105th IOC/WMC meeting will be organized on April 14th, 2024 in Santiago de Chile.

Learn more
105th

Our news Others news

4th April 2025 Zinnwald Lithium has strong support for its lithium project!

Lithium battery. Source: Photo by Vardan Papikyan on Unsplash

Zinnwald Lithium Plc announced that the Saxon State Government has reaffirmed its strong support for its…

4th April 2025 BHP considered spinning off its iron ore and coal divisions

Open peat mine aerial view. Source: ivan-bandura Unsplashed

According to Reuters, BHP Group considered spinning off its Australian iron ore and coal divisions as…

2nd April 2025 Critical Metals Corp releases PEA for Tanbreez Project

Greenland's glacial and mountain landscape. Source: Photo by Visit Greenland on Unsplash.

Critical Metals Corp. has made a press release announcing the release of the independent Preliminary Economic…

28th March 2025 Strengthening Europe’s Strategic Raw Material Capacities

European Union flags. Source: Alexandre - lallemand Unsplash.

The European Commission has unveiled its first-ever list of 47 Strategic Projects under the Critical Raw…

26th March 2025 France discovers 46 million tons of natural hydrogen

Wind turbine on the green field. Source: Photo by Peter Beukema on Unsplash

In a groundbreaking revelation, scientists in France have uncovered an astonishing 46 million tons of natural…

25th March 2025 Aurion Resources announces strategic partnership with KoBold Metals

Brain in the form of microchip. Source: Photo by Steve Johnson on Unsplash

Aurion Resources Ltd. has made a press release informing that it has entered into a definitive…

25th March 2025 Strengthening collaboration between LW Bogdanka S.A. and JSW S.A. continues

Coal. Source: Photo by Dexter Fernandes on Unsplash.

Representatives from Lubelski Węgiel Bogdanka S.A. recently visited Jastrzębska Spółka Węglowa S.A. (JSW) to further the…

21st March 2025 Discoveries 2025 Mining Conference approaches!

Discoveries 2025 Mining Conference . Source: https://www.discoveriesconference.com/

This year the upcoming 11th edition of Discoveries Mining Conference, one of the most prominent mining…

19th March 2025 Ramanco Resources with a grant for the Brook Mine Project

Mineral ore. Source Photo by Max Tcvetkov on Unsplash

Ramaco Resources, Inc. has made a press release where it announced the receipt of a $6.1…

19th March 2025 Strengthening U.S. and Congo Partnerships

Democratic Republic of Congo forest landscape. Source: Photo by Juan Fernández on Unsplash

President Félix Tshisekedi of the Democratic Republic of Congo (DRC) recently met U.S. lawmaker Ronny Jackson…