Taseko Mines Limited plans to increase Gibraltar Mine’s copper and molybdenum production capacity over the coming 20 months.
By investing in the mine and the concentrator, the company hopes to improve efficiency processing near-term, higher-grade ore and optimizing mining during a period of high copper prices.
Company president Russell Hallbauer noted in a press release that 2010 was an, “excellent year at Gibraltar.”
He added the company expected that to continue into 2011 as they, “continue to debottleneck the ore-feed system.”
In the fourth quarter, the company produced 23.4 million pounds of copper and 276,000 pounds of molybdenum.
Total production for 2010 was 92.3 million pounds of copper and 941,000 pounds of molybdenum.
Further information on the capacity increase was unavailable for release at press time.