Business
Taseko Mines Announces Continued Strong Operational and Financial Results in the First Quarter 2026
VANCOUVER, British Columbia, May 06, 2026 (GLOBE NEWSWIRE) -- Taseko Mines Limited (TSX: TKO; NYSE American: TGB; LSE: TKO) ("Taseko" or the "Company")
About this update from Taseko Mines Limited
[{"type":"text","content":" VANCOUVER, British Columbia, May 06, 2026 (GLOBE NEWSWIRE) -- Taseko Mines Limited (TSX: TKO; NYSE American: TGB; LSE: TKO) (\"Taseko\" or the \"Company\") reports first quarter 2026 Adjusted EBITDA* of $93 million and Earnings from mining operations before depletion and amortization and non-recurring items* of $115 million, a 172% and 195% improvement over the same period in 2025, respectively. Revenues in the first quarter were $237 million from the sale of 27 million pounds of copper and 708 thousand pounds of molybdenum. First quarter net income was $17 million ($0.05 per share) and Adjusted net income* was $28 million ($0.08 per share). As previously released, Gibraltar produced 30 million pounds of copper and 717 thousand pounds of molybdenum in the first quarter, at Total operating cost (C1)* of US$2.63 per pound of copper produced. The strong production levels from the second half of 2025 continued in the first quarter and copper grades of 0.25% were in line with the life of mine average. Mill throughput was 7.0 million tons in the first quarter, slightly lower than the previous quarter. Throughput was adjusted to optimize copper recoveries, which increased to 83% in the quarter, and was also impacted by unscheduled maintenance. Tons mined in the first quarter were in line with plan. At Florence Copper, the injection of solutions in the wellfield commenced in late 2025 in parallel with the SX/EW plant commissioning. Initial flowrates were above expectations resulting in faster acidification of the wellfield, and solution grades reached targeted levels in January. The SX/EW plant commenced operation in February, and first copper cathodes were harvested at the end of February. A total of 1.5 million pounds of copper cathode was produced in the first quarter. Five drill rigs are now operating on site and increased production from newly acidified wells is expected later in the second quarter. Additional production growth will come as new groups of wells are constructed, tested, and integrated into the wellfield operation over the remainder of the year. Expected copper cathode production in 2026 continues to be in the range of 30 to 35 million pounds. Stuart McDonald, President & CEO of Taseko, commented, “Both of Taseko’s producing assets performed well in the first quarter. Gib...