NEW YORK Taseko Mines
Ltd.s first-quarter copper output rose 12 percent year on
year, which it attributed to a new concentrator at its
joint-venture Gibraltar Mine.
The Gibraltar Mine produced 23.2
million pounds of copper in the quarter, up from 20.7 million
pounds of copper in same 2012 period.
Meanwhile, the mines
molybdenum output fell nearly 19 percent to 355,000 pounds from
438,000 pounds in the same comparison.
Copper sales for the quarter
totaled 21.5 million pounds, up 68 percent from 12.8 million
pounds a year earlier, but molybdenum sales fell 4.8 percent to
337,000 pounds from 354,000 pounds.
In its first six days of
operation, the Gibraltar Mines new concentrator improved
throughput to 1,000 tons per hour from 500 tons per hour, and
averaged more than 80-percent copper recovery, Taseko said.
"We are extremely pleased with
how commissioning progressed on the new concentrator, and this
is reflected in how well the system is working after only six
days," Taseko president and chief executive officer Russell
Hallbauer said in a statement. "We have transformed Gibraltar
from 60 million pounds of annual copper production and a
40-month mine plan to a modern 165-million-pound-per-year
producer with a 25-year mine life."
Taseko owns 75 percent of the
Gibraltar Mine, with the remainder held by Cariboo Copper