Marble, columns and stairs
Apr 15, 2011

On April 15, 2011, Taseko Mines Limited completed its public offering of US$200 million aggregate principal amount of its senior notes due 2019. The notes bear an annual interest rate of 7.75%.

Taseko intends to use the proceeds of the notes to fund Gibraltar Development Plan 3 (GDP3). GDP3 is a $235 million expansion project that will increase Gibraltar’s annual copper capacity by approximately 60 million pounds to 180 million pounds, as well as increase annual molybdenum production by two million pounds (all production figures reflect 100% amounts, Taseko’s share is 75%).

Taseko Mines was represented in the transaction by McMillan LLP, with a team that consisted of Bernhard Zinkhofer, Barb Collins (Canadian securities law), Michael Taylor (US securities law), and John Morrison (lending).