Taseko Mines is implementing 'Gibraltar development plan 3' (GDP3) to increase the production capacity at the Gibraltar mine in British Columbia, Canada.
As part of development, the firm is planning to invest $235m for the expansion concentrator and molybdenum plant and around $90m for mining equipment.
The GDP3 includes the construction of a 30,000t-a-day concentrator to complement the currently operating 55,000t-a-day facility.
According to the firm, the new molybdenum recovery facility will increase molybdenum metal production by over a million pounds a year.
Taseko has planned a ten-hole drill programme to balance the increased throughput of the new concentrator, due to begin operations in the coming weeks.