Taseko Mines, a Canadian mining company, has revised its annual copper production forecast following a strike at its Gibraltar mine in British Columbia. The two-week strike in June halted operations, impacting copper output. The company now expects to produce between 110 million and 115 million pounds of copper in 2024, down from its initial projection of 115 million pounds.
Production at the Gibraltar mine dropped 29% year-over-year to 20 million pounds for the April-June quarter. The strike delayed the installation of a relocated in-pit crusher and planned maintenance on a mill concentrator. "We are evaluating updated mine plans and throughput opportunities to recover lost production," said CEO Stuart McDonald.
Molybdenum production, a by-product of the copper operations, also fell by 20% to 185,000 pounds compared to the same period last year.
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