Taseko Mines Reports Q1 2025 Earnings and Project Updates

Taseko Mines ( (TGB) ) has released its Q1 earnings. Here is a breakdown of the information Taseko Mines presented to its investors.

Taseko Mines Limited is a Canadian mining company primarily engaged in the production of copper and molybdenum, with its flagship Gibraltar Mine located in British Columbia. The company is also advancing the Florence Copper project in Arizona, which is expected to significantly boost its production capacity.

In its first quarter of 2025, Taseko Mines reported an adjusted EBITDA of $34 million and revenues of $139 million, despite facing a net loss of $29 million. The company sold 22 million pounds of copper and 364 thousand pounds of molybdenum during this period. The Gibraltar Mine’s copper production was impacted by lower recoveries from oxidized ore, and the company anticipates a decrease in annual copper production by about 10 million pounds compared to previous guidance.

Key highlights from the quarter include the continued progress on the Florence Copper project, which is 78% complete and on track for first copper cathode production in the fourth quarter of 2025. The company also completed share issuances under its ATM equity offering, raising gross proceeds of $31 million. Taseko has secured a minimum copper price of US$4.00 per pound for 81 million pounds of copper for the remainder of 2025 through copper collar contracts.

Looking ahead, Taseko Mines is poised for significant growth with the anticipated startup of Florence Copper later this year, which is expected to enhance production and cash flow. The company remains focused on executing its construction plans and optimizing operations at Gibraltar to achieve higher grades and recoveries in the latter half of 2025 and into 2026.