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Taseko Mines Ltd T.TKO

Alternate Symbol(s):  TGB

Taseko Mines Limited is a Canada-based copper focused mining company. The Company's principal assets are the 100% owned Gibraltar mine (Gibraltar), which is located in central British Columbia and is one of the largest copper mines in North America and the Florence Copper project, which is under construction. The Company also owns the Yellowhead copper, New Prosperity gold-copper, and Aley niobium projects. The Florence Copper project is located south of Phoenix in the community of Florence, Arizona. The Yellowhead Project is located in the Thompson-Nicola region of British Columbia, approximately 150 kilometers (km) northeast of Kamloops near the town of Vavenby. The Aley niobium project is located in northeast British Columbia. The New Prosperity property is located in south-central British Columbia and hosts one of the most significant copper and gold deposits in Canada. It is also located in an area of cultural significance to the Tsilhqot'in Nation, known as Teztan Biny and Nabas.


TSX:TKO - Post by User

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Post by Sogosohubidu201on Apr 07, 2020 12:00pm
81 Views
Post# 30886840

Glencore to shut copper mines in Zambia

Glencore to shut copper mines in Zambiahttps://www.mining.com/glencore-shuts-copper-mines-in-zambia/

Miner and commodities trader Glencore (LON:GLEN) has declared force majeure at its Mopani Copper Mines unit (MCM) in Zambia and plans to suspend operations in the country for three months, mines minister Richard Musukwa said on Tuesday.

Musukwa said he would not let the company proceed with the plan as it had not complied with the law close. He added that the government had also rejected the miner’s attempt to give it less than 24 hours’ notice to lay off more than 11,000 workers, ZNBC News reported.

“The Ministry is not aware of any event that has happened that is beyond the reasonable control of MCM and which makes mining impossible,” Musukwa said.

Glencore, which separated its African copper business from its wider copper operations last year, launched in March a review of MCM aimed at cutting spending. It said at the time that lower copper prices and uncertainty caused by the coronavirus pandemic had been take their toll.

Mopani Copper Mines, which produced 119,000 tonnes of copper in 2018, is 73.1% owned by Glencore, 16.9% by First Quantum Minerals and 10% by Zambia’s mining investment arm ZCCM-IH.

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