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Sep 30, 2025
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Taseko Mines Q3 2025 Earnings Report
Taseko Mines reported improved financial and operational performance in the third quarter of 2025.
Key Takeaways
Taseko Mines delivered higher copper production from its Gibraltar mine, resulting in increased revenues. However, despite operational improvements, the company posted a net loss due to non-operational expenses. Progress continued at the Florence Copper project with commissioning underway.
Generated $174 million in revenue from copper and molybdenum sales.
Reported net loss of $28 million despite adjusted net income of $6 million.
Copper production increased to 27.6 million pounds, with improved head grade and recoveries.
Florence Copper project reached commissioning stage with first cathode production expected in early 2026.
Forward Guidance
Copper production and recoveries are expected to further improve in Q4 2025. Florence Copper is ramping up commissioning with first production expected in early 2026.
Positive Outlook
- Gibraltar expected to deliver higher copper grades and recoveries in Q4.
- Florence Copper nearing first cathode production with commissioning underway.
- New wellfield drilling at Florence to support 2026 ramp-up.
- Favorable offtake agreements at Gibraltar reduce refining costs.
- Robust copper market outlook supported by electrification trends.
Challenges Ahead
- Recent net loss driven by non-operational expenses.
- Copper head grade still behind initial plan despite improvement.
- Florence Copper still months away from commercial output.
- Capital intensity remains high across projects.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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