10:58 AM EST, 01/09/2025 (MT Newswires) -- Taseko Mines ( TGB ) , up 10% on last look, on Thursday said it produced 106 million pounds of copper from its Gibraltar mine last year. The company also produced 1.5 million pounds of molybdenum.

Sales volumes for the year were 108 million pounds of copper and 1.4 million pounds of molybdenum.

Mill throughput at Gibraltar averaged over 89,000 tons per day in the fourth quarter, 5% over design capacity, resulting in copper production of 29 million pounds for the period, Taseko said.

The company is guiding to annual production of 120 million to 130 million pounds of copper in 2025.

In late December, Taseko closed a transaction with Osisko Gold Royalties ( OR ) to amend the Gibraltar silver steam agreement, increasing the attributable silver percentage from 87.5% to 100%. In exchange, Taseko has received an additional cash payment of US$12.7 million.

"The silver stream amendment follows our acquisition of the remaining 12.5% Gibraltar joint venture interest last March, and the additional cash proceeds further strengthen our balance sheet during this period of construction spending at Florence Copper," said Stuart McDonald, president and CEO of Taseko.

Taseko was last seen up $0.31, to $3.37 on the Toronto Stock Exchange.

Price: 3.37, Change: +0.31, Percent Change: +10.13