Taseko announces senior management changes

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Taseko Mines Ltd. [TSE-TKO] has announced changes to its senior management team in a bid to support its plan to become a North America-focused, multi-asset copper producer.

The company said Richard Tremblay has been named Chief Operating Officer, while Terry Morris has joined the company as Vice-President, Operations.

Taseko is a Vancouver-based company with a portfolio that includes the Gibraltar mine in British Columbia, the Florence Copper Project in Arizona, and the New Prosperity copper-gold project, which is located near Williams Lake, B.C.

Back in March, 2023, the company completed the acquisition of an additional 12.5% interest in the Gibraltar mine from Sojitz Corp. and now holds an effective 87.5% stake in the mine.

Florence Copper is an in-situ copper recovery project located midway between Pheonix and Tucson, near the community of Florence, Arizona. Development is being performed in two phases, including a phase one production test facility and a second phase commercial facility.

Florence is expected to produce an average of 85 million pounds of copper annually during a projected lifespan of 22 years. Operating costs are forecast at US$1.11 per pound. Florence is now transitioning into the construction phase, with commercial operations expected in 2025.

Commenting on the management appointments, Taseko said Tremblay joined the company in 2014 as General Manager of the Gibraltar Mine before transitioning to the corporate leadership team where he has been acting as Senior Vice President, Operations in recent years. Tremblay has over 30 years of mining industry experience with a focus on large-scale, open pit mining operations and mineral processing. He has been instrumental in the development of the Florence Copper project.

Morris is a mining engineer with near 20 years of experience in mining operations management, mine management and regulatory compliance. He was most recently with Barrick Gold Corp. [TSX-ABX, NYSE-GOLD] in management roles at Pueblo Viejo in the Dominican Republic, and the Turquoise Ridge and Pheonix Mines in Nevada, U.S.A. He previously held senior operating and management roles with Peabody Australia, Westmoreland Coal and Teck Resources Ltd. (TSX-TECK.B, TSX-TECK.A, TSX-TECK).

Taseko recently announced that its Gibraltar mine produced 35 million pounds of copper and 369,000 pounds of molybdenum in the third quarter (100% basis).

“The 25% quarter-over-quarter increase in copper production was as result of higher grades, improved recoveries and increased mill throughput,’’ said Taseko President and CEO Stuart McDonald.  “Mining in the Gibraltar pit it progressing on plan and the benches are providing the ore quality we expected,” he said.

“Molybdenum grades have also increased as mining has progressed deeper into the Gibraltar pit resulting in a 60% increase in quarterly molybdenum production.”

Taseko shares eased 0.60% or $0.01 to $1.65 on Monday. The shares currently trade in a 52-week range of $2.53 and $1.45.

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