Taseko Mines Limited (Taseko) operates as a copper focused mining company. The company engages in acquiring, developing, and operating large tonnage mineral deposits in stable jurisdictions which are capable of supporting a mine for decades.
The company’s principal operating asset is its wholly-owned Gibraltar Mine, a large copper mine located in central British Columbia. The company is also constructing its 100% owned Florence Copper Project in Arizona, which is expected to commence copper pro...
Taseko Mines Limited (Taseko) operates as a copper focused mining company. The company engages in acquiring, developing, and operating large tonnage mineral deposits in stable jurisdictions which are capable of supporting a mine for decades.
The company’s principal operating asset is its wholly-owned Gibraltar Mine, a large copper mine located in central British Columbia. The company is also constructing its 100% owned Florence Copper Project in Arizona, which is expected to commence copper production in the fourth quarter of 2025. Florence Copper is expected to be a low-cost copper producer and one of the greenest sources of copper globally. In addition, the company has several wholly-owned advanced-stage development projects. The location of the company’s properties in British Columbia, Canada, and the Florence Copper property in Arizona, and the United States.
Mineral Properties
The company’s material properties are Gibraltar and Florence Copper.
Gibraltar Mine
The Gibraltar open pit mine and related facilities are located 65 kms north of the City of Williams Lake and are centered at latitude 52o 30'N and longitude 122o 16'W in the Cariboo Mining Division.
The Gibraltar Mine property consists of 252 tenures.
There are 32 mining leases at the Gibraltar Mine which are valid until at least June 2027 as long as rental fees, which are due on an annual basis, are paid. Rights to use the surface accompany each mining lease. There are 215 claims included in the Gibraltar property tenure package all of which are due to expire in January 2030 or later.
The Gibraltar Mine holds three other land parcels.
In December 2020, Gibraltar Mines entered into an option agreement, amended in May 2023, granting Gibraltar the exclusive right and option to acquire a 100% title and interest in five additional mineral claims covering 2,888 hectares which are located northeast of the Gibraltar Mine. In order to acquire a 100% interest in the five optioned mineral claims.
Gibraltar has been owned and operated as an unincorporated joint venture between Taseko and Cariboo since March 31, 2010. The company's wholly-owned subsidiaries, Gibraltar Mines Ltd. and Cariboo hold 75% and 25% beneficial interests in the Joint Venture, respectively.
The Gibraltar open pit mine is a calc-alkalic porphyry copper-molybdenum deposit entirely hosted by the Late Triassic Granite Mountain batholith, a component of the Quesnel volcanic arc terrane.
There are five defined mineralized zones on the Gibraltar Mine property. They are the Granite, Pollyanna, Connector, Gibraltar, and Extension zones. They occur in a broad zone of shearing and alteration.
Florence Copper
Florence Copper is located in the Town of Florence, Pinal County, Arizona.
The property consists of two land parcels: 1,145 acres held in fee simple ownership, and 160 acres of Arizona State Trust Lands through Arizona State Mineral Lease 11-26500.
Yellowhead Project
The Yellowhead Copper Project is located approximately 150 kms northeast of Kamloops.
The property consists of one mining lease which is valid until at least June 2050 and 94 mineral claims covering a total of approximately 42,358 hectares. All mineral claims are in good standing until at least August 2026. There are three parcels of fee simple land located 2.5 kms west of the nearest community, Vavenby, where the rail load-out facility would be located.
New Prosperity Project
The New Prosperity Project is located in the Clinton Mining Division.
The New Prosperity Project consists of one mining lease which is valid until at least June 2039 and 85 mineral claims covering the mineral rights for approximately 190 square kms. All claims are in good standing until at least July 2025. Taseko intends to renew all leases prior to their expiry and maintain all of the claims. The claims are 100% owned by Taseko and are not subject to any royalties or carried interests.
Aley Project
The property is located in the Omineca Mining Division in British Columbia, Canada.
The Aley property consists of one mining lease valid until at least December 2045 and one hundred and twelve mineral claims covering the mineral rights for approximately 476 square kms. All claims are in good standing until at least October 2025. The Aley Property is not subject to any royalty terms, back-in rights, payments or any other agreements or encumbrances.
Environmental Protection Requirements
Taseko's mining and project development activities in Canada are subject to various levels of Canadian federal and British Columbia provincial laws and regulations relating to the protection of the environment. Similarly, Florence Copper is subject to various levels of U.S. federal and Arizona state laws and regulations relating to protection of the environment.
Business Strategy
Taseko's strategy has been to grow the company to become a North America focused multi-asset copper producer. The company has utilized the cash flow from Gibraltar to acquire and develop a pipeline of large-scale, high-quality, advanced-stage mineral projects located in stable jurisdictions, which generates long-term shareholder value. The company’s mineral projects are located in British Columbia and Arizona and are primarily focused on copper, but also contain other metals, including molybdenum, silver, gold, and niobium. The company’s main focus in the near term is successfully executing on the construction of Florence Copper.
History
Taseko Mines Limited was incorporated in 1966 pursuant to the Company Act (British Columbia).