Dec. 17, 2012
/PRNewswire/ - Taseko (TSX: TKO; NYSE MKT: TGB) (the "Company") is pleased to announce that the commissioning phase of the
Gibraltar Development Project 3 (GDP 3) has begun.
The electrical power distribution and reclaim water systems have been successfully tied in and are now operational and water testing of the new tailings system is underway.
Commissioning will continue into January and it is expected that first ore will be delivered to the new concentrator immediately thereafter, with commercial production targeted by the end of March.
, President and CEO of Taseko, commented, "In the twenty months since awarding the construction management contract, we have successfully built a new 30,000 ton per day concentrator and associated infrastructure, on time and on budget for
. This new concentrator, along with the
of new state-of-the-art mining equipment, will increase
production capabilities to 85,000 tons per day by mid-2013.
will have two distinct production trains which will significantly enhance our operational flexibility. As metal production increases over the course of the year while we ramp up our daily mill throughput, operating costs will decline from those experienced over the latter part of 2012."
President and CEO
No regulatory authority has approved or disapproved of the information contained in this news release.
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This document contains "forward-looking statements" that were based on Taseko's expectations, estimates and projections as of the dates as of which those statements were made. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "outlook", "anticipate", "project", "target", "believe", "estimate", "expect", "intend", "should" and similar expressions.