Markets

Taseko Mines Turns Positive After Unveiling $235-Mln Expansion at Gibraltar Mine

Taseko Mines Ltd. (TKO.TO) is enjoying a late surge, with shares turning positive and gaining nearly 2% after announcing a $235-mln expansion at its Gibraltar copper and molybdenum mine in British Columbia.

The upgrade includes construction on a new concentrator capable of processing 30,000 tons of ore per day, helping boost copper production 50% to 180 mln pounds. The company also plans to build a new molybdenum recovery plant and expects to increase molybdenum metal producton to 1 mln pounds per year.

Work on the project will begin in early spring and should be completed by Q4 2012.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Other Topics

Commodities

Latest Markets Videos

    MTNewswires

    Founded in 1999, MT Newswires (formerly known as Midnight Trader) is a leading provider of original source, multi-asset class, real-time, global financial news and information to most of the largest banks, brokerage firms and professional market data, trading & research applications in North America.

    Learn More