“Over the last two years there has been a dramatic shift in the long-term outlook for copper, as the world accelerates the transition to a green economy,” noted Taseko CEO Stuart McDonald. “With the improved market outlook, our engineering team updated pit designs which have added 200 million tons [181.5 million tonnes] of additional reserves to the life of mine plan.”
Including reserves, the measured and indicated resources total 1.11 billion tonnes at 0.25% copper and 0.008% molybdenum. The inferred material totals 70.7 million tonnes at 0.22% copper and 0.004% molybdenum.
Taseko said its share of the operation has a net present value with an 8% discount of $1.1 billion and a free cash flow of $2.3 million at a long-term price of $3.50 per lb. copper.
The life-of-mine stripping ratio has increased slightly to 2.4:1, but there is no change to the mine plan over the next five years. Annual production will average…
