Articles for tag: British, Columbia, Gibraltar, miners, notice, serve, Strike

May 30, 2024

Ron Finklestien

mining

British Columbia miners serve strike notice at Gibraltar

The Gibraltar copper-molybdenum mine is the second largest open-pit copper mine in Canada and the largest employer in the Cariboo region of British Columbia. “Unifor has negotiated in good faith to avoid work stoppage at Taseko’s only functioning copper mine,” Unifor’s Western regional director Gavin McGarrigle said. “We need Taseko to get serious about resolving basic issues if we’re to avoid job action.” Taseko has not responded to a request for comment. Taseko posted its highest ever revenue of $525 million for 2023 in March, thanks mainly to the contribution of the Gibraltar mine, in which it held a majority 87.5% interest.

March 25, 2024

Ron Finklestien

mining

Taseko Secures Full Ownership of Gibraltar Mine

Taseko’s bold move to acquire full ownership of the Gibraltar mine is a strategic masterstroke. The Vancouver-based company has sealed the deal by agreeing to pay C$117 million (approximately $86 million) over a decade to acquire the shares held by Dowa and Furukawa in Cariboo Copper Corp. This acquisition transforms Taseko into the solitary proprietor of Cariboo Copper Corp, effectively granting the firm a 100% stake in the renowned Gibraltar mine, nestled in the heart of south-central British Columbia. The deal not only solidifies Taseko’s ownership but also enhances its offtake rights, as the Cariboo offtake contract returns to Taseko.