Taseko Announces Second Quarter Financial and Operational Results

VANCOUVER, British Columbia, Aug. 06, 2025 (GLOBE NEWSWIRE) -- Taseko Mines Limited (TSX: TKO; NYSE American: TGB; LSE: TKO) ("Taseko" or the "Company") reports second quarter 2025 Adjusted EBITDA* of $17 million, net income of $22 million ($0.07 per share) and an Adjusted net loss* of $13 million ($0.04 loss per share). Revenues for the second quarter were $116 million from the sale of 19 million pounds of copper and 178 thousand pounds of molybdenum.

Second quarter copper production at Gibraltar was in line with plan and mining operations made significant headway opening up the Connector pit. Tons mined was 31% higher than the first quarter, and the improved mining rates have set the mine up to deliver the expected higher grades in the second half of the year. The mine produced 20 million pounds of copper and 180 thousand pounds of molybdenum in the second quarter at Total operating costs (C1)* of US$3.14 per pound of copper produced. Mill throughput averaged 84,200 tons per day at average copper grades of 0.20% and copper recoveries were 63%. Recoveries continued to be impacted by both low grades and also high oxide and secondary mineralization. Second quarter copper production also includes the first copper cathodes from Gibraltar’s newly refurbished SX/EW plant which restarted in late May after being idle since 2015. After a quick ramp up in June and July, the plant is now operating at a steady state.

Construction activities at Florence Copper continue to advance on schedule and the project remains on track to achieve first copper cathode production before the end of 2025. At the end of June, overall project completion was over 90% and US$239 million had been incurred on construction in the last 18 months. Construction spending was lower than the prior quarter and, with approximately 90% of total expected construction costs now incurred, spending will decline again in the third quarter as construction activities wind down.

Stuart McDonald, President & CEO of Taseko, commented, “I am very pleased with progress at Florence Copper, where our project team has done an excellent job maintaining the project schedule and budget, without compromising the safety of our contractors or employees at site. Construction activities will soon be shifting to commissioning of the SX/EW plant systems and beginning wellfield operations. With less than six months until anticipated first production, this is an exciting time for our Company. We still have a lot of work ahead to complete construction and ramp up copper production, but the more than ten years of effort to get us here is about to payoff.

At Gibraltar, mining operations have made good progress advancing deeper into the Connector Pit and we’re looking forward to a much stronger second half. The expected higher grades and improved recoveries will lead to increased copper production and stronger cash flows.

Despite the recent volatility in Comex copper prices, we remain in a healthy copper price environment and it’s great timing to be growing our copper production base with a new US-based operation. With lowest quartile operating costs, Florence Copper will begin to generate strong cashflows next year as it ramps up to design capacity.”

*Non-GAAP performance measure. See