Taseko Mines Limited (NYSE:TGB) is one of the cheap penny stocks to buy now. On June 23, Taseko Mines published its annual Sustainability Report, titled: C2 (Copper x Community). The report highlights the company’s operational and sustainability achievements in 2024, noting the connection between copper production and social environments that benefit from the company’s projects.
In the year 2024, Taseko’s flagship operation, called the Gibraltar Mine, completed 20 years of successful operations under the company. As Canada’s second-largest copper mine, Gibraltar’s copper production was 105.6 million pounds, and molybdenum production was 1.4 million pounds in that year.
Aerial view of the Yellowhead copper project, the scale of the landscape revealed.
In March last year, Taseko acquired the remaining 12.5% interest in Gibraltar, bringing its ownership to 100%. Construction at Florence Copper, which will be Taseko’s second operational mine. Construction of the commercial production facility commenced in January 2024, and by year-end, the project was ~56% complete. The first copper production is expected in Q4 2025.
Taseko Mines Limited (NYSE:TGB) is a mining company that acquires, develops, and operates mineral properties. It explores for copper, molybdenum, gold, niobium, and silver deposits.
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Disclosure: None. This article is originally published at Insider Monkey.
