Exploration & Processing - Winter 2011 - (Page 22)

GIBRALTAR MINES LTD. BY RUSS GAGER After a long hiatus brought about by low metal prices, the Gibraltar Mine in British Columbia was recently reopened for copper and molybdenum mining. BECAUSE OF CONTINUED EXPLORATION, THE GIBRALTAR MINE HAS MORE RESERVES NOW THAN WHEN THE MINE WAS OPENED IN 1972. KEEPS ON GIVING O COMPANY PROFILE Gibraltar Mines Ltd. www.tasekomines.com/tko/Gi braltar.asp Market capitalization: $1 billion HQ: Vancouver Employees: 450 on site Specialty: Copper and molybRoss MacLean, general manager: “We have to maintain a great deal of discipline on cost control.” 22 | EXPLORATION-PROCESSING.COM denum mining riginally developed in 1971 by Placer Development, the Gibraltar mine was commissioned in 1972 to mine copper and molybdenum. “They had 360 million tons of ore reserves in 1972, and now we are at about 450 million tons of reserves today,” notes Ross MacLean, general manager. “So over that 35-year life – with continued exploration and development – we’ve managed to grow the reserves faster than we’ve depleted them. We’re working on continuing that trend.” The Gibraltar mine was shut down in 1998 due to low metal prices and was placed on care and maintenance. This enabled it to be sold in 1999 to their present owners. “Taseko obviously got what they saw as a very reasonable deal on this property,” MacLean says. “In 2003, metal prices started improving, and that’s what prompted Taseko to restart the mine in 2004.” The Gibraltar mine consists of 251 mineral claims and 30 mining leases that are spread out over approximately 109 square kilometers of British Columbia. Resources and reserves are located in seven separate mineralized zones. The mines’ owners – of which Taseko Mines Ltd. owns 75 percent – have invested approximately $300 million in two phases of mining equipment and WINTER 2011 http://www.EXPLORATION-PROCESSING.COM

Table of Contents for the Digital Edition of Exploration & Processing - Winter 2011

Exploration & Processing - Winter 2011
Redefining Refining
Synfuels Success
A Natural Solution
After the Fallout
Uranium on the Rise
Galleon Energy Inc.
Gibraltar Mines Ltd.
The Municipal Group of Companies
Selwyn Resources Ltd.
Redmond Minerals Inc.
Copper Fox Metals
Henry Resources
OFM Pump Inc.
Sunshine Oilsands Ltd.
Pacific Rubiales Energy Co.
Thermo Design Engineering
Alexco Resource Corp.
North American Palladium
Mammoet Canada Eastern Ltd.
KSM Inc.
Industrial Equipment Manufacturing Ltd.
Flexpipe Systems
Guyana Goldfields Inc.
Flotek Industries Inc.
Dominion Terminal Associates
Compressor and Engine Service LLC
BEHR Energy Services Ltd.
LoneStar Energy Fabrication
American Oil & Gas – The Goliath Project
Alberta Oilsands Inc.
Southern Petroleum Laboratories Inc.
Cochrane Technologies Inc.
Crystal Flash Energy
Energold Drilling Corp.
Esperanza Resources Corp.
Explorator Resources Inc.
Rush Sales Co.
Kimber Resources Inc.
Nelson Bros. Oilfield (1997) Services Ltd.
Gulf Copper and Manufacturing
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Exploration & Processing - Winter 2011