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Taseko Mines Ltd reported a widened net loss in the third quarter of 2025 despite higher revenue and copper output at its Gibraltar mine in Canada. The Vancouver, Canada-based mining company which develops copper assets in North America said net loss widened to C$27.8 million, approximately $19.9 million, in the third quarter ended September 30 from C$180,000 a year earlier. Revenue rose 12% to C$173.9 million from $155.6 million. Taseko said it mined 29.3 million tonnes of copper at its Gibraltar mine in Canada in the third quarter, up from 23.2 million tonnes year-on-year. Production also increased 1.8% to 27.7 million pounds of copper from 27.1 million pounds the prior year. Chief Executive Officer Stuart McDonald said: ‘Despite the recent price volatility, the fundamentals of the copper market remain healthy. Copper prices are expected to remain strong in 2026 as accelerating demand from electrification and constrained mine supply continue to tighten the global market.’ Referencing its Florence copper mine in Arizona, McDonald added: ‘Our construction and operating teams at Florence have achieved a number of significant milestones in recent months and have successfully completed this major capital project in line with our execution plan. Initial flow rates in the commercial wellfield have been in line with expectations at this point of the wellfield ramp up process, and we’re now very close to first cathode production. Drilling activity will also restart on the wellfield in the next few weeks. These additional wells are required to ramp up cathode production in 2026.’ Looking ahead, Taseko expects to increase Gibraltar copper head grades and recoveries in the fourth quarter and forecasts copper production for the year to be between 100 to 105 million pounds from 110 to 115 million pounds previously. Taseko shares were 2.3% higher at 358.00 pence each in London on Thursday afternoon. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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