3rd Feb 2025 13:50
Taseko Mines Ltd - Taseko Mines Ltd - operates open-pit Gibraltar copper mine in British Columbia, Canada - Says it is not directly impacted by new trade tariffs announced by the governments of the US and Canada. Taseko confirms no impact on sales from its fully owned Gibraltar mine in British Columbia. "The mine produces copper and molybdenum concentrates that are sold to international metal traders and delivered to Asian markets. Offtake contracts are in place for 100% of copper concentrate production through the end of 2026, and no changes to these sales channels are expected during this period," Taseko says.
Further, it adds that the Florence copper project in Arizona is the only new copper mine currently under construction in the US. It is expected to produce first copper in the fourth quarter of 2025 and will be a major new supplier of refined copper cathode for the US domestic market.
Chief Executive Officer Stuart McDonald says: "Although these new tariffs will not directly impact our business, as a North America focussed copper producer we are hopeful that a more constructive trade relationship will emerge for copper and other critical minerals, for the benefit of both Canada and the US. Going forward, we believe Canada must continue to diversify its economy by redoubling efforts to expedite development of critical mineral mines."
Current stock price: 155.00 pence each, flat on Monday afternoon in London
12-month change: up 33%
By Tom Budszus, Alliance News slot editor
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