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Taseko signs electricity cost referral for Gibraltar copper project in British Columbia

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Taseko signs electricity cost referral for Gibraltar copper project in British Columbia

Taseko Mines Ltd.said April 11 it had signed up for the electricity cost referral arranged by theBritish Columbia government for its Gibraltarcopper mine in the province.

In February, the BC government announced a plan to allow mining companies to defer up to75% of their electricity costs until commodity prices perk up.

The maximum deferral of 75% will apply due to the low copperprice, Taseko said.

"Electricity is one of Gibraltar's biggest expenses; accountingfor nearly 10% of the mine's total operating costs," Taseko President and CEORussell Hallbauer said in the statement.

"This deferral program will reduce Gibraltar's annual spendingby up to C$18 million."