Taseko Mines reports strong earnings for 2024, plans for increased copper production in 2025.

From GlobeNewswire: 2025-02-19 20:15:11

Taseko Mines Limited reports full year 2024 Adjusted EBITDA of $224 million, with revenues of $608 million from the sale of 108 million pounds of copper and 1.4 million pounds of molybdenum. The company had a net loss of $13 million and an adjusted net income of $57 million for the year. Production at the Gibraltar Mine in the fourth quarter was 29 million pounds of copper and 578 thousand pounds of molybdenum, with total operating costs of $2.42 per pound of copper produced. The company expects an increase in copper production in 2025 to 120 to 130 million pounds, with the first copper production at the Florence Copper project targeted before the end of the year.

The company’s long-term growth strategy includes the Yellowhead Copper Project, which is expected to produce 4.4 billion pounds of copper over a 25-year mine life, as well as the New Prosperity Gold-Copper Project and the Aley Niobium Project. Taseko remains focused on project development and growth opportunities in North America, with a strong financial position and liquidity of $331 million. The company continues to advance projects and exploration activities to generate long-term returns for shareholders.



Read more at GlobeNewswire: Taseko Reports 2024 Fourth Quarter and Annual Earnings