(Alliance News) - Taseko Mines Ltd on Wednesday posted strong first quarter results, with surging copper production and revenue growth.
Shares in the Vancouver, Canada-based mining company closed up 9.3% in Toronto on Wednesday following the results.
Taseko noted that its strong production levels from the second half of 2025 carried over into the first quarter, contributing to the positive earnings.
Profit swung to CAD16.8 million in the first quarter, from a CAD28.6 million loss in the same period the year prior.
Revenue grew 70% to CAD237.1 million from CAD139.1 million year-on-year.
Basic earnings per share swung to CAD0.05, from a loss of CAD0.09 a year ago.
Adjusted earnings before interest, taxes, depreciation and amortisation grew 58% to USD93.4 million, from 59.1 million year-on-year.
Copper production rose 50% to 30.0 million pounds in the first quarter, up from 20.0 million pounds a year ago.
Stuart McDonald, Taseko's president and chief executive officer, noted that "both of Taseko's producing assets performed well in the first quarter. Gibraltar operations have achieved a consistent production level in recent quarters as mining activities have been advancing on plan in the Connector pit."
Taseko noted the February commissioning of its solvent extraction, electrowinning plant in Arizona, which by the quarter's end had already produced 1.5 million pounds of copper cathode.
The company maintained its expectation of 30 million to 35 million pounds of copper cathode production in 2026.
By John Robaina, Alliance News reporter
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