SMM2, 19 March: Taseko Mines, which is listed on the Toronto Stock Exchange and the New York Stock Exchange, has successfully acquired yellow lowhead Mining Company and successfully added a copper project close to excavation to its assets.
Russell Hallbauer, president and chief executive of Taseko, said on Friday that the acquisition of Yellowhead was a meaningful and manageable deal that would create huge long-term value for shareholders.
Yellowhead owns a copper / gold / silver development project in south-central British Columbia.
The pre-tax NPV of the project is estimated at C $1.1 billion.
Hallbauer reports that Taseko is preparing to launch provincial and federal environmental review procedures.
In the coming months, the technical team will also be working on a number of projects to improve the economic benefits of the project.
These measures include water and tailings management, pit design, grinding capacity, cut-off grade, metallurgy and processing. The goal is to issue a 43 / 101 new technology report by the end of 2019.
It is believed that the timing of the project is in the best position in the copper price cycle and can follow the launch of the company's Florence copper project.
Taseko aims to complete the Florence project in Arizona by the first half of 2020.
The project will produce an average of 75 million pounds of copper a year for 20 years.
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