Taseko Mines recorded revenues of $608 million in 2024, selling 108 million pounds of copper and 1.4 million pounds of molybdenum. Adjusted EBITDA for the year was $224 million, with earnings from mining operations before depletion and amortization at $244 million. Despite cost control measures, the company reported a net loss of $13 million ($0.05 per share), while adjusted net income was $57 million ($0.19 per share).
In Q4, the company posted $56 million in adjusted EBITDA, with earnings from mining operations at $59 million. Copper production at the Gibraltar mine reached 29 million pounds, with total operating costs (C1) at $2.42 per pound. Full-year production was 106 million pounds, impacted by scheduled maintenance and an 18-day labor strike.
For 2025, Taseko expects copper production to increase to 120-130 million pounds as operations normalize. The restart of the SX/EW plant is projected to further enhance output, though the first quarter will see lower production due to ore stockpile usage.
Construction at Florence Copper is progressing on schedule, with over 60% completion as of January. First copper production is expected by the end of 2025. The company maintains a strong financial position with $173 million in cash and total liquidity of $331 million.
