Fitch rates Taseko notes B-

Fitch Ratings said it gave B-/RR4 ratings to Taseko Mines Ltd.'s planned $325 million of senior secured notes due in 2026. The notes are to be guaranteed by entities owning Taseko's interests in the Florence project.

“The rating reflects Taseko's small size, concentration on one operation and cost position in the third quartile of the global copper cost curve. The Gibraltar mine benefits from a stable production profile, a favorable mining jurisdiction and an 18-year mine life,” Fitch said in a press release.

Proceeds are to be used to redeem Taseko’s $250 million of notes due June 15, 2022, to support the Florence copper project's potential development and for general corporate purposes.

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