Taseko Mines Ltd. shows gross profit of $51.7 million in 2012

The numbers are in for Taseko Mines Ltd. 2012 showing a gross profit of $51.7 million.

The numbers are in for Taseko Mines Ltd. 2012 showing a gross profit of $51.7 million.

“2012 was a year of major transformation for Taseko,” said Russell Hallbauer, president and chief executive officer of Taseko.

“While mining companies around the world announced asset write-downs, capital expenditure overruns and operating cost inflation, we advanced our business plan of investing in our mining operations and development assets within defined economic constraints.”

Taseko reported in 2012 it had revenues of $253.6 million from the sale of 66 million pounds of copper and one million pounds of molybdenum of which 75 per cent is Taseko’s share.

The total production at Gibraltar Mine northeast of Williams Lake was 89.7 million pounds of copper and 1.3 million pounds of molybdenum.

As well the Gibraltar Development Plan 3 is completed and is now in the commissioning phase.

Vice-president of corporate and community affairs Brian Battison said that means the company will begin to start to test operate the equipment.

“Once all the machines are completed and ready to operate, you begin to turn them on one at a time, and test the different circuits. First they will run water through first a bit at a time in part of the circuit and then through the entire circuit. Then they’ll begin running rock and ore through it to see how that works.”

The commissioning period can be several months for a big industrial complex before it can start to begin at or near specification.

“It’s been a building year. In 2013 we will see the benefit and value of that investment in higher production and lower costs.”

From a community perspective, the investment in Gibraltar represents a significant and sustained commitment to the Cariboo both in dollars and in people, he added.

In 2012, Taseko spent $6.5 million on its New Prosperity Gold-Copper Mine project for engineering, preparing its Environmental Impact Statement, and preparing responses for the panel’s further request for information on the EIS.

 

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Williams Lake city council is interested in acquiring the former Poplar Glade School property on Eleventh Avenue. (Greg Sabatino photo - Williams Lake Tribune)
Williams Lake city council sets sights on two former school properties

School District said there is a five-step process for property disposal

School District 27 (SD27) issued notice Thursday, Feb. 25 of a COVID-19 exposure at Mountview Elementary School. (Angie Mindus photo)
School district reports positive COVID-19 case in Williams Lake elementary school

A letter went home to families of Mountview Elementary School

The City of Williams Lake is asking for public feedback on whether it should explore the opportunity to host a Greater Metro Hockey League team in Williams Lake. (Angie Mindus photo - Williams Lake Tribune)
City of Williams Lake seeks feedback on hosting junior hockey league team

A league expansion application in Quesnel is also pending

A rainbow shining on Kelowna General Hospital on May 12, 2020 International Nurses Day. (Steve Wensley - Prime Light Media)
New COVID cases trending down in Interior Health

24 new cases reported Thursday, Feb. 25, death at Kelowna General Hospital

Provincial health officer Dr. Bonnie Henry updates B.C.’s COVID-19 situation at the B.C. legislature. (B.C. government)
B.C. reports 10 additional deaths, 395 new COVID-19 cases

The majority of new coronavirus infections were in the Fraser Health region

Cannabis bought in British Columbia (Ashley Wadhwani/Black Press Media)
Is it time to start thinking about greener ways to package cannabis?

Packaging suppliers are still figuring eco-friendly and affordable packaging options that fit the mandates of Cannabis Regulations

A kid in elementary school wearing a face mask amid the COVID-19 pandemic. (Metro Creative)
Union asks why an elementary school mask rule wouldn’t work in B.C. if it does elsewhere

B.C. education minister announced expansion of mask-wearing rules in middle, high school but not elementary students

A pharmacist prepares a COVID-19 vaccine at Village Green Retirement Campus in Federal Way on Jan. 26. (Olivia Sullivan/Sound Publishing)
Canada approves use of AstraZeneca’s COVID-19 vaccine

The country joins more than a dozen others in giving the shot the green light

A new survey has found that virtual visits are British Columbian’s preferred way to see the doctor amid the COVID-19 pandemic. (Unsplash)
Majority of British Columbians now prefer routine virtual doctor’s visits: study

More than 82% feel virtual health options reduce wait times, 64% think they lead to better health

Carolyn Howe, a kindergarten teacher and vice president of the Greater Victoria Teachers’ Association, says educators are feeling the strain of the COVID-19 pandemic and the influx of pressure that comes with it. (Nina Grossman/News Staff)
Stress leave, tears and insomnia: Island teachers feel the strain of COVID-19

Teachers still adjusting to mask and cleaning rules, pressures from outside and within

Captain and Maria, a pair of big and affectionate akbash dogs, must be adopted together because they are so closely bonded. (SPCA image)
Shuswap SPCA seeks forever home for inseparable Akbash dogs

A fundraiser to help medical expenses for Captain and Maria earned over 10 times its goal

The missing camper heard a GSAR helicopter, and ran from his tree well waving his arms. File photo
Man trapped on Manning mountain did nearly everything right to survive: SAR

The winter experienced camper was overwhelmed by snow conditions

Cory Mills, Eric Blackmore and A.J. Jensen, all 20, drown in the Sooke River in February 2020. (Contributed photos)
Coroner confirms ‘puddle jumping’ in 2020 drowning deaths of 3 B.C. men

Cory Mills, Eric Blackmore and A.J. Jensen pulled into raging river driving through nearby flooding

Most Read