Core Viewpoint - Taseko Mines Limited confirms that new US and Canadian trade tariffs will not impact its operations, particularly the Gibraltar Mine and the Florence Copper Project, which is under construction and expected to produce copper by Q4 2025 [1][2][3]. Group 1: Impact of Tariffs - The US import tariffs will have no effect on sales from Taseko's 100%-owned Gibraltar Mine, which produces copper and molybdenum concentrates sold to international traders [2]. - Taseko has offtake contracts in place for 100% of its copper concentrate production through the end of 2026, ensuring stability in sales channels [2]. - The company does not anticipate any material impact on construction costs for the Florence Copper Project or operating costs for the Gibraltar Mine due to the new tariffs [4]. Group 2: Project Updates - The Florence Copper Project is currently under construction in Arizona and is the only new copper mine being developed in the United States, expected to supply refined copper cathode to the domestic market [3]. - Construction procurement activities for the Florence project are nearly complete, with all materials either on-site or being fabricated in the US [4]. Group 3: Management Commentary - Stuart McDonald, President & CEO of Taseko, expressed hope for a more constructive trade relationship between Canada and the US regarding copper and critical minerals [5]. - The company emphasizes the need for Canada to diversify its economy and expedite the development of critical mineral mines [5].
Taseko Comments on New US and Canadian Tariffs