Taseko Mines Ltd. has been operating Gibraltar Mine in the Cariboo region for 20 years and believes it has a bright future.
The company purchased the mine in 1999, which had originally started operation in 1972 and closed in 1998, and embarked on a three-phase modernization and expansion, reopening it in 2004.
Vice-president of corporate affairs for Taseko, Sean Magee, said they are confident Gibraltar will operate fully for another 20 years.
There are three main pits at the mine where the copper is sourced - the Gibraltar pit, Granite pit and Pollyanna pit.
Currently they are operating what Magee said is called the Connector pit, which connects Pollyanna and Gibraltar pits.
“We’ll operate in Connector pit, we’ll move back into the Gibraltar pit, this is all within the mine site and as we move toward the end of the current reserves there will be an extension to the Gibraltar pit," Magee explained, adding those reserves will support the company’s production to 2044.
Operations continue within the mine site and have not expanded the footprint of the disturbed area, he confirmed.
Gibraltar is the second largest open-pit copper mine in Canada, averaging 129 million pounds of copper production each year. By comparison, Highland Valley Copper Mine at Logan Lake is the largest producer.
Magee said it is anticipated the mine will continue to produce at that level through to 2044.
An economic impact study prepared for the company’s 20th anniversary by MNP noted approximately 97 per cent of the mine's 700 employees reside in the Cariboo.
The report stated Gibraltar accounts for approximately 2.7 per cent of total employment in the Cariboo and its employment income accounts for 15.5 per cent of the entire region.
Additionally, Magee said the report shows the value of how much economic activity a project can create over decades on a single piece of land.
“It’s also the case that the economic benefits they create are very localized - to this point $16 billion worth of economic activity - more than half of that stays right in the Cariboo.”
Gibraltar continues improvements to keep up with changes in environmental regulations, Magee said when asked by the Tribune.
“One of the things we have recently permitted is a water treatment plant that will be built over the next couple of years and put into operation.”
There has been a reduction in the amount of water stored on site, he added, explaining the mine needs to have an optimum amount of water on site to meet operational purposes, but not have any undue risk.
Tariffs imposed by the U.S. will not impact Taseko Mines Ltd. Gibraltar Mine in the Cariboo, said Magee.
“It’s not significant for us."
All of Gibraltar’s production goes off-shore to smelters and refiners in Asia.
“That’s really the case for all copper producers here in B.C. Concentrates of copper and molybdenum are smelted and refined into a refined product in Asia."
With the rise of Canada's trade war with the U.S., Magee said the importance of Canada and B.C. developing its mineral resources so as not to be fully reliant on the U.S. market has been highlighted.
“I think our leadership, certainly in Victoria and in Ottawa, has recognized the importance of critical minerals, mines and production in terms of our economic security and independence.”
