Headquartered in Vancouver, Canada, Taseko is the owner (75%) and operator of the
Gibraltar Mine, the second largest open pit copper-molybdenum mine in Canada. Taseko's
New Prosperity Project, is one of the largest undeveloped gold-copper deposits in
the world. In addition, the Aley Niobium and Harmony Gold projects are two longer
term development opportunities that provide Taseko with a diverse project pipeline.
Taseko's is the owner (75%) and operator of the Gibraltar copper-molybdenum mine,
located in south-central British Columbia, the second largest open pit copper mine
in Canada and the largest employer in the Cariboo region. By the end of 2012, the
Company will have invested ~$700 million to expand and modernize the operation,
which was scheduled for demolition when the Company acquired it in 1999.
Built in 1972, the mine was originally designed to process 36,000 tons of ore per
day, producing approximately 60 million pounds of copper annually. Soon after the
re-start in 2004, Taseko realized the potential of this large resource and embarked
on a program to increase the copper reserves and expand the mining and processing
In 2007, the first modernization phase commenced. The initial phase included the
construction of a 34 foot semi-autogenous grinding (SAG) mill, conversion of rod
mills to ball mills and the complete replacement of the flotation recovery system
with 160m3 float cells, along with the addition of new mining equipment. Once completed
in 2008, these modifications and new equipment increased the processing rate of
the concentrator to 46,000 tons per day. This capital investment totaled $76 million.
In 2009, the Company initiated the second phase of the modernization project which
included an inpit crusher and conveyor system, increasing regrind and cleaner flotation
the installation of a two-stage tailings
pumping system plus a new coarse ore stockpile and SAG direct feed system. The mining
fleet was further upgraded with the addition of two new mining shovels and new haul
trucks. This phase was completed in mid-2011 for a total cost of $224 million.
Gibraltar Development Plan 3 (GDP3) was originally planned to commence in 2009,
but with the crash of the world financial markets and devalued copper price in late
2008, the Company placed the plans on hold. Construction actually started on a new
30,000 ton per day standalone facility at Gibraltar in early 2011. The new facility
will be independent of the existing 55,000 ton per day concentrator and enhance
operating flexibility and reliability. In addition to the new concentrator, the
mining fleet will be upgraded with a new mining shovel, production drill and ten
haul trucks. This project was complete in December 2012, for a total capital cost
of $325 million.
The Gibraltar mine provides substantial economic benefits to the local area by employing
in excess of 700 people. Gibraltar is focused on maintaining the operations as a
long-life mine and Taseko has planned for the long-term turning challenges into
opportunities. For further information about the mine or the company, visit Taseko
Mines Limited at www.tasekomines.com
and for information about Williams Lake and area visit www.williamslake.ca