Taseko stake to cost $180m

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Taseko stake to cost $180m

Sojitz Corp., a Japanese-based trading company, has signed a letter of intent to buy a 25-per-cent stake in the Gibraltar copper-molybdenum mine from Vancouver-based Taseko Mines for about $180 million.

The joint venture, which is subject to due diligence by Sojitz, would see Taseko retain a 75-per-cent stake in the mine north of Williams Lake. The deal would provide Taseko a significant chunk of the equity needed to build a new mine at the Prosperity copper-gold property southwest of Williams Lake.

Source: Kelowna