Taseko Mines Limited (TSX:TKO) acquired an additional 25% stake in Cariboo Copper Corporation from Furukawa Co.,Ltd. (TSE:5715) on March 25, 2024. The board of directors of Furukawa resolved to transfer the shares held in CCC to Taseko Mines.

Taseko Mines Limited (TSX:TKO) completed the acquisition of an additional 25% stake in Cariboo Copper Corporation from Furukawa Co.,Ltd. (TSE:5715) on March 25, 2024. In a related transaction, TKO acquired remaining 25% stake in Cariboo Copper Corporation from Dowa Metals & Mining Co., Ltd. on March 25, 2024. An initial $5 million payment was made to Dowa and Furukawa shortly following closing. The remaining cash consideration will be repayable in annual payments commencing in March 2026. The annual payments will be based on the average LME copper price of the previous calendar year, subject to an annual cap based on a percentage of cashflow from the Gibraltar Mine. Total consideration is capped at $142 million, limiting the contingent consideration to a maximum of $25 million.