Taseko: Gibraltar Mine

Gibraltar, the cornerstone of Taseko’s growth strategy Taseko’s is the owner (75%) and operator of the Gibraltar copper-molybdenum mine, located in south-central British Columbia, the second largest open pit copper mine in Canada and the largest employer in the Cariboo region. By the end of 2012, the Company will have invested ~$700 million to expand and modernize the operation, which was scheduled for demolition when the Company acquired it in 1999. Built in 1972, the mine was originally designed to process 36,000 tons of ore per day, producing approximately 60 million pounds of copper annually. Soon after the re-start in 2004, Taseko realized the potential of this large resource and embarked on a program to increase the copper reserves and expand the mining and processing capacity. By the end of 2012, Gibraltar’s processing capacity will be increased to 85,000 tons per day with annual copper production averaging 180 million pounds for its 27 year mine life. .