Taseko Mines Ltd. [TKO-TSX; TGB-NYSE MKT] is updating the operating status of the 75%-owned Gibraltar open pit copper-molybdenum-silver mine located 65 km north of Williams Lake, central British Columbia. Taseko is the operator.
Due to uncontrolled wildfires in the Cariboo, an evacuation order has been issued for the town of Williams Lake (pop. 11,000) and a number of other smaller communities in the region. This has impacted Taseko’s employees’ ability to travel to the mine and Gibraltar has now been temporarily idled. It is unclear when milling and mining operations will recommence.
There are no fires in the immediate area of Gibraltar which pose any threat to the mine.
Russell Hallbauer, President and CEO, said that this is an evolving situation which management is actively managing to ensure Gibraltar is restarted as soon as possible.
The Gibraltar Mine has a life-of-mine average annual production of 140 million lbs of copper and 2.6 million lbs of molybdenum (on a 100% basis). The property hosts a large reserve of 3.1 billion lbs of recoverable copper and 55 million lbs of molybdenum.