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VANCOUVER - Taseko Mines (NYSE:TGB) Limited (TSX: TKO; NYSE American: TGB; LSE: TKO), a North American mining company, announced that recent US and Canadian tariff changes will not affect its current operations or sales channels. The company’s Gibraltar Mine, which produces copper and molybdenum concentrates, has secured off-take contracts for its copper concentrate production through the end of 2026, ensuring that sales to Asian markets remain unaffected.
The new tariffs, which were introduced by the US and Canadian governments over the weekend, have raised concerns across various industries. However, Taseko confirmed that its Florence Copper Project under construction in Arizona is also insulated from these changes. The project, slated to start producing copper in Q4 2025, is poised to become a significant supplier of refined copper cathode for the US domestic market.
Stuart McDonald, President & CEO of Taseko, commented on the broader trade implications, expressing hope for a more constructive trade relationship between Canada and the United States, particularly for copper and other critical minerals. McDonald emphasized the importance of Canada diversifying its economy and expediting the development of critical mineral mines.
The company reassured stakeholders that the tariffs would not materially impact construction costs for the Florence Copper Project or operating costs for the Gibraltar Mine. Taseko’s proactive procurement strategy for the Florence project has seen all necessary construction materials already on-site or being fabricated within the US, mitigating potential cost increases due to the tariffs.
This announcement comes as industries across North America are assessing the potential impacts of the new trade measures. Taseko’s forward-looking approach appears to have positioned the company to navigate the current trade climate effectively.
The information in this article is based on a press release statement from Taseko Mines Limited.
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