Gibraltar Mine (Photo courtesy of Ledcor)

Efficiencies protect Gibraltar Mine from fluctuating market

“These copper prices are not especially low for our operation”

Currently low copper prices are not impacting production at Gibraltar Mine just north of Williams Lake, said Taseko Mines Ltd. vice-president of corporate affairs Brian Battison.

“These copper prices are not especially low for our operation,” Battison told the Tribune.

On Tuesday,copper prices were hovering at $2.65 a pound U.S.

“Gibraltar was an old worn out facility that had to close during low copper prices. We changed all of that when we invested $700 million and made it a brand new mine with all efficient electrical motors.”

He described the mine as one of the most competitive low-grade mining facilities in the world.

“We have a very robust competitive low-cost producer that’s able to endure lower copper prices and that previously was not the case with that mine.”

Read More: B.C.’s Mount Polley Mine to suspend operations

Outlining copper prices in the last five years according to KITCO, Battison said they were as high as $3.40 U.S. in 2014 and a low as $2 U.S. in November 2015.

“Copper always cycles. It’s not at its highest right now but it’s not at its lowest. It’s been bouncing between $2.60 and $2.70 the last few months.”

Low copper prices are sometimes offset by a weak Canadian dollar, he added.

“Our costs are in Canadian dollars but we get paid in U.S. dollars so when there’s a weak Canadian dollar it’s good for copper producers in Canada and all manufacturers that sell their goods in U.S. dollars.”

There are approximately 700 people working at Gibraltar Mine.


Do you have a comment about this story? email:
editor@wltribune.com

Like us on Facebook and follow us on Twitter.

Just Posted

Sunny skies forecast for next few days in Cariboo

Anyone in the Cariboo hoping to get outside this Sunday, Jan. 20 should be in for a treat.

Women’s Spirituality Circle invites all lakecity women to Wellness Expo

The Women’s Wellness Expo is just one week away

New year brings a new vision for Boys and Girls Club

Expansion and utilization of their programs and resources is this year’s goal

Reach a Reader day just around the corner

Join the Cariboo-Chilcotin Partners for Literacy in celebrating the importance of literature

Royal Canadian Legion gearing up for Robbie Burns Night

Community invited to celebrate the famous Scottish bard Jan. 26

Students seen mocking Native Americans could face expulsion

One 11-minute video of the confrontation shows the Haka dance and students loudly chanting

B.C. VIEWS: Fact-checking the NDP’s speculation tax on empty homes

Negative-option billing is still legal for governments

May plans next move in Brexit fight as chances rise of delay

Some say a lack of action could trigger a ‘public tsunami’

Group challenges ruling for doctors to give referrals for services that clash with beliefs

A group of five Canadian doctors and three professional organizations is appealing

Major winter storm wreaks havoc on U.S. travel

Nearly 5,000 flights were cancelled Sunday around the country

CONSUMER REPORT: What to buy each month in 2019 to save money

Resolve to buy all of the things you want and need, but pay less money for them

Want to avoid the speculation tax on your vacant home? Rent it out, Horgan says

Premier John Horgan and Sheila Malcolmson say speculation and vacancy tax addresses homelessness

UPDATE: B.C. woman and boy, 6, found safe, RCMP confirm

Roseanne Supernault says both she and her six-year-old nephew are fine and she has contacted police

PHOTOS: Women’s Marches take to the streets across B.C. and beyond

Women and allies marched worldwide protesting violence against women, calling for equality

Most Read