please help improve it or discuss these issues on the talk page . learn how and when to remove these template messages the neutrality of this article is disputed . relevant discussion may be found on the talk page . please do not remove this message until conditions to do so are met . december 2014 learn how and when to remove this template message this article may require cleanup to meet wikipedia s quality standards . the specific problem is bulleting formatting culling of excess financial stock exchange data . needs expansion also re ongoing controversy . links needed and spelling of company name wrong throughout the article . please help improve this article if you can . february 2014 learn how and when to remove this template message learn how and when to remove this template message taseko mines limited type public traded as nyse mkt tgb tsx tko industry copper and gold niobium founded 1999 headquarters vancouver canada key people mr. russell e. hallbauer teseko s ceo products copper gold niobium and molybdenum revenue 218.07 million 1 usd 2007 operating income 56.98 million 1 usd 2007 net income 56.98 million 1 usd 2007 number of employees 514 2010 slogan building wealth through developing and operating major copper mines website www.tasekomines.com taseko mines limited is a mid tier copper producer located in british columbia canada . it operates gibraltar mine the second largest open pit mine in canada and is in the planning stages for several other mines including the prosperity mine harmony and aley . all production is sold at non hedged market based prices . the market capitalization currently is roughly 740 million dollars . contents 1 news 2 company history 3 gibraltar mine 4 prosperity mine 4.1 reserves 4.2 timeline 5 harmony mine 6 location aley 7 financial information 8 references 9 external links 10 sources news edit august 13 2008 earnings announcement july 1 2008 jeffrey mason as chief financial officer resigns june 26 2008 taseko purchases 100 million dollars worth of mining equipment for gibraltar phase iii may 13 2008 phase iii of expansion of gibraltar announced . output will rise to 170 180 million lb of copper per year may 8 2008 electrical transformer failure results in mill not operating for 10 days company history edit 1991 prosperity project acquired july 1999 gibraltar acquired from boliden 2002 harmony acquired 2004 gibraltar reopened due to high copper prices 2007 aley acquired gibraltar mine edit operations large open pit mine with production ranging from 80 110 million lb copper per year at a cost of 1.20 per lb mined once phase ii expansion has been completed . reserves 2.4 billion pounds of copper and 69 million pounds of molybdenum 2 1.86 billion lb copper produced 1973 1998 timeline 1973 placer development opens mine 1996 mine sold to westmin resources 1998 mine closed july 1999 taseko purchases gibraltar from boliden october 2004 mine reopens under taseko 2006 taseko takes over operations at gibraltar may 2006 phase i expansion of gibraltar announced . concentrator capacity increases from 36 750 to 46 000 tpd at a cost of 76 million may 2007 phase ii expansion of gibraltar announced . concentrator capacity will increase from 46 000 to 55 000 tpd at a cost of 40 million may 13 2008 phase iii expansion of gibraltar . an additional concentrator will be constructed with an additional output of 30 000 tpd . which management believes will yield 180 million lb copper per year prosperity mine edit property includes 85 square km in south central british columbia . a large copper and gold mineralization has been defined on the property containing around 5.3 billion lb copper and 13.3 million oz of gold . the feasibility for the mine was completed on september 25 2007 and the environmental review process began in july 2008 . operations large open pit copper and gold mine with projected production of 108 million lb per year and 247 000 oz of gold per year for 20 years . reserves edit cost 800 million clarification needed in 2009 proven reserves for the mine were 481 million tonnes 0.46 gram per tonne of gold and 0.26 per cent copper . probable reserves were estimated at 350 million tonnes grading 0.35 gram per tonne of gold and 0.18 per cent of copper based on a 5.50 net smelter return cut off . 3 timeline edit 1991 acquired by taseko mines sep 25 2007 feasibility study completed for 70 000 tonnes per day with 20 year mine life july 2008 environmental assessment begins november 2010 initial open pit proposal rejected by canadian environmental assessment agency review board . environment minister jim prentice and the minority tory government support the rejection . 4 november 2011 taseko president russell hallbauer sends a letter to environment minister peter kent suggesting that the proposal was rejected for spiritual rather than environmental reasons . 5 harmony mine edit the harmony property is located on graham island the largest island of the haida gwaii archipelago within the queen charlotte islands off the coast of british columbia . the property contains a low grade gold mineralization that can only be mined profitably at historically high gold prices . teseko has yet to explore this property and values the property at 1 on its balance sheet as of september 2004 . 6 status exploration asset reserves latest engineering study indicated 64 million tonnes at 1.52 grams per tonne . in place resources are 3 million oz of gold . cost no projects pending projects pending n a timeline 1970 s property discovered october 2001 property acquired for 2.23 million dollars and preferred stock september 30 2004 property value written down to nominal value of 1 location aley edit the aley asset contains niobium a rare metal used in the production of special steel alloys that are corrosion resistant . currently only 2 mines in the world produce the rare metal . 7 the spot price of this metal has risen significantly in the last 5 years from has low as 6.70 per lb in 2004 to 24.00 currently 1 . the property is located near the shore of the lake about 30 kilometers from the camp . the price of status exploration asset reserves a feasibility study has not been completed thus far . the resource estimates are 330 500 million lb with recoveries of which 65 % may be recovered cost n a feasibility study not completed timeline 1980 s discovered by cominco june 2007 teseko acquires property for 1.5 million cash 894 730 common shares 2008 exploration of property begins financial information edit shares listed on the nyse under the tgb symbol taseko owns 7.318 million shares of continental mining a chinese mining company 2 assets march 31 2008 september 30 2007 june 2007 september 2006 current assets cash and equivalents 66 416 37 636 44 306 89 408 restricted cash 4 400 4 400 marketable securities and investments 14 850 18 542 accounts receivable 12 209 12 021 16 203 9 342 income taxes receivable 6 344 advances to related party 807 inventory 22 724 18 058 12 744 24 218 prepaid expenses 839 1 069 2 641 1 221 current portion of promissory note 723 2 086 1 238 2 157 124 105 94 619 97 907 149 447 restricted cash 4 400 4 400 reclamation deposits 35 468 33 396 32 653 32 004 promissory note 73 058 72 350 72 128 71 009 property plant and equipment 221 821 176 898 136 843 43 445 458 852 337 263 339 531 297 461 liabilities march 31 2008 september 30 2007 june 2007 september 2006 current liabilities accounts payable and accrued liabilities 27 032 30 435 20 646 21 961 advances from related party 118 current portion of deferred revenue 175 175 1 095 1 225 current portion of royalty obligation 723 2 086 1 238 2 157 income taxes payable 6 573 13 166 3 985 current portion of future income taxes 807 29 976 44 589 35 225 47 862 income taxes 25 478 24 645 22 523 21 058 royalty obligation 62 590 63 330 63 825 64 632 deferred revenue 963 1 050 1 094 1 225 convertible debt 43 383 41 008 42 173 42 775 site closure and reclamation cost 14 334 17 441 19 864 18 975 future income taxes 35 671 21 540 5 591 212 395 213 603 190 295 196 527 references edit a b c . 2006 2005 . taseko mines limited news releases taseko adds 128 million tons to gibraltar mineral reserves thu aug 14 2008 stockwatch news release november 2 2009 cited in bc minfile record summary no 092o 041 prosperity fish lake bb viccal albert renner new prosperity prentice kills taseko s prosperity mine sun media november 2 2010 b.c. mining company wants aboriginal spirituality ignored in project review the vancouver sun april 30 2012 teseko mines limited annual report p45 niobium external links edit official website sources edit prosperity cost http www.tasekomines.com i pdf tko tribune 27feb07 wewantprosperity.pdf 100 million equipment purchase http www.tasekomines.com tko newsreleases.asp reportid 309233 & type news releases & title taseko purchases 100 million in mining and milling equipment phase iii expansion http www.tasekomines.com tko newsreleases.asp reportid 301338 & type news releases & title taseko proceeds with phase iii expansion at gibraltar mine 2007 annual report detailing all properties owned http www.tasekomines.com i tko tko ar 2007.pdf market capitalization http finance.yahoo.com q d t & s tgb cfo resignation http www.foxbusiness.com story markets industries industrials taseko announces change executive team retrieved from https en.wikipedia.org w index.php title taseko mines & oldid 732113440 categories companies listed on nyse mktcompanies listed on the toronto stock exchangecopper mines in canadachilcotin countrymining in british columbiahidden categories npov disputes from december 2014all npov disputesarticles needing cleanup from february 2014all articles needing cleanupcleanup tagged articles with a reason field from february 2014wikipedia pages needing cleanup from february 2014wikipedia articles needing clarification from december 2014british columbia articles missing geocoordinate dataall articles needing coordinates navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit view history more search navigation main pagecontentsfeatured contentcurrent eventsrandom articledonate to wikipediawikipedia store interaction helpabout wikipediacommunity portalrecent changescontact page tools what links hererelated changesupload filespecial pagespermanent linkpage informationwikidata itemcite this page print export create a bookdownload as pdfprintable version languages add links this page was last modified on 29 july 2016 at 18 44 . text is available under the creative commons attribution sharealike license ; additional terms may apply . by using this site you agree to the terms of use and privacy policy . wikipedia is a registered trademark of the wikimedia foundation inc. a non profit organization . privacy policy about wikipedia disclaimers contact wikipedia developers cookie statement mobile view