Trekor Metals

What Trekor Metals does

Trekor Metals Limited (operating as Taseko Mines, listed on TSX: TKO, NYSE American: TGB, LSE: TKO) is a North American copper mining company headquartered in Vancouver, Canada, with a market capitalization of approximately C$4.3 billion as of August 2026. The company operates two producing copper assets — the Gibraltar Mine in south-central British Columbia (Canada's second-largest copper mine, with 85,000 tons-per-day capacity and a 20+ year remaining mine life) and Florence Copper in Arizona (the world's first greenfield in-situ copper recovery operation, which commenced commercial production in early 2026 with 85 million pounds per year of LME Grade A cathode capacity). In addition to its operating mines, Trekor holds a development pipeline including the Yellowhead Project (a potential 178 million pound-per-year copper mine in BC), the Aley niobium project, and the New Prosperity gold-copper property. The company consolidated 100% ownership of Gibraltar in 2024 by acquiring Dowa Metals & Mining's 12.5% stake for US$117 million and raised US$500 million in senior secured notes to fund the Florence buildout.

Trekor generates revenue through B2B sales of copper-molybdenum concentrate (from Gibraltar) and copper cathode (from Florence) to global smelters and refiners under negotiated offtake agreements, with prices set externally by the London Metal Exchange and COMEX. The company has demonstrated strong market demand for its concentrate, securing unprecedented negative treatment charges in 2024-2025 after remarketing Dowa's former offtake share. Its core technology stack combines conventional large-scale open-pit milling and flotation at Gibraltar (including a molybdenum recovery circuit) with proprietary in-situ copper recovery at Florence, where weak sulphuric acid solution is injected into fractured ore bodies 245-275 meters below surface and the resulting pregnant leach solution is processed through on-site solvent extraction and electrowinning plants. Florence's ISCR method produces LME Grade A cathode at approximately 75% lower GHG intensity than conventional mining, supporting the company's positioning around energy-transition copper supply.

Trekor's go-to-market is enterprise field sales directly to industrial smelting and refining customers, with Gibraltar concentrate shipped via the Port of Vancouver to overseas markets and Florence cathode sold into North American and international markets. The company has built a defensible position around long-life assets (Gibraltar to ~2044, Florence over a 22-year mine life), low-cost production (Florence targeting ~$1.30/lb long-term), extensive Indigenous community partnerships (Xatsūll, Northern Shuswap Tribal Council, Simpcw, Haisla), and a multi-decade development pipeline. Its customer base is global and commoditized; pricing power is constrained by external LME/COMEX benchmarks but offset by tight concentrate market conditions. The company is led by President & CEO Stuart McDonald (appointed 2021, prior CFO since 2013) under Chairman Ronald Thiessen, with a Board that includes former Minera Escondida President Kenneth Pickering and former Haisla Nation Chief Councillor Crystal Smith.

Name

Trekor Metals

Legal name

Trekor Metals Limited

Website

https://trekormetals.com

Company type

Public

Founded year

1999

Operating status

Operating

Short description

Trekor Metals is a North American copper mining company operating the Gibraltar Mine in British Columbia and Florence Copper in Arizona (the world's first greenfield in-situ copper recovery operation), selling copper concentrate and cathode to global smelters and refiners via offtake agreements.

Ownership category

akta.pro rank

Product category

Copper Mining

NAICS

Copper, Nickel, Lead, and Zinc Mining (212230)

SIC

Metal Mining (1000)

akta.pro primary industry

Copper Ore Mining (Open-Pit & Underground) (IMAKADAB)

akta.pro secondary industries

Copper Exploration & Resource Development (IMAKADAA), Copper By-Products Recovery (Molybdenum, Gold/Silver, Sulfuric Acid) (IMAKADAH), Copper Anode/Cathode Production & Handling (IMAKADAG), Copper Concentration (Crushing, Grinding, Flotation) (IMAKADAC)

Keywords

• Copper mining operations
• In-situ copper recovery
• Copper concentrate production
• Base metals extraction
• Mineral project development

Headquarters

HQ city

Vancouver

HQ country

Canada

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Operations, Personnel, Infrastructure, Technology or R&D, Supply Chain, Marketing or Sales

Revenue model

1. Copper Concentrate Sales: Sale of copper-molybdenum concentrate produced at Gibraltar Mine. Concentrate is shipped to Port of Vancouver for overseas transport and refining. Gibraltar produced 97 million pounds of copper in 2022.
2. Copper Cathode Sales: Sale of LME Grade A copper cathode produced at Florence Copper using in-situ recovery. Annual design capacity of 85 million pounds of copper cathode over 22-year mine life.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels6 records

Core offering

Trekor Metals operates and develops copper mining assets in North America, producing copper-molybdenum concentrate from the Gibraltar Mine in British Columbia and LME Grade A copper cathode from the Florence Copper in-situ recovery operation in Arizona. The company also holds an advanced development pipeline including the Yellowhead copper project, the Aley niobium project, and the New Prosperity gold-copper property. Revenue is generated by selling copper concentrate and cathode to global smelters and refiners through negotiated offtake agreements priced against London Metal Exchange benchmarks.

Product overview

Trekor Metals is a North American copper mining company with a multi-asset portfolio consisting of operating mines and development projects. The company's core products are the Gibraltar Mine (foundational copper-molybdenum asset in BC producing 130 million lb./year) and Florence Copper (in-situ copper recovery operation in Arizona producing 85 million lb./year capacity). Development-stage projects include Yellowhead Project (potential major copper mine in BC), Aley Project (niobium property in BC), and New Prosperity (gold-copper property in BC). The company also produces molybdenum as a co-product at Gibraltar.

Differentiator

Problem solved

Functional benefit

Brands

• Florence Copper: World's first greenfield in-situ copper recovery (ISCR) operation located in Arizona, producing LME Grade A copper cathode with 85 million pound annual capacity and 22-year mine life.
• Gibraltar Mine
• Yellowhead Project

Products and services

• Gibraltar Mine
• Florence Copper
• Yellowhead Project
• Aley Project
• New Prosperity

Quantifiable outcome

• Florence Copper produces 85 million lbs/year of copper cathode at ~$1.30/lb long-term operating cost
• +3 more outcomes

Named customers2 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Ten partnerships are on record, tiered minor and core.

• Center for Strategic & International Studies (CSIS)minorStrategic or Co-development Partner · 1 January 2025Trekor sponsored CSIS research initiative exploring Canada-US collaboration on defense-critical minerals production. CSIS published policy recommendations including financing instruments, trade agreements, and infrastructure investments.
• North Thompson Communities FoundationminorStrategic or Co-development Partner · 1 January 2025Trekor contributed $5,000 as first corporate donor to NTCF Indigenous Priorities Fund supporting local Indigenous-led programs in education, sport, culture, art, and language in North Thompson region.
• Haisla NationminorStrategic or Co-development Partner · 1 January 2025Crystal Smith, former Chief Councillor of Haisla Nation (2017-2025), joined Trekor's Board of Directors in November 2024, bringing expertise in Indigenous partnership and LNG Canada project development.
• Dowa Metals & MiningminorChannel Partner/ Reseller/ Distributor · 1 January 2024Trekor acquired Dowa's 12.5% interest in Gibraltar Mine for US$117 million, payable over ten years. This gave Trekor access to Dowa's 30% share of Gibraltar offtake, which was remarketed to achieve unprecedented negative treatment charges in 2024-2025.
• Simpcw First NationcoreStrategic or Co-development Partner · 1 January 2024Yellowhead Project is located within Simpcw First Nation territory. Trekor is conducting parallel Indigenous environmental assessment with Simpcw and engaging in ongoing community consultation for the proposed 25-year copper mine project.
• MineralsEdminorStrategic or Co-development Partner · 1 January 2024Non-profit educational organization (BC since 1991) partnered with Trekor for Regional Spotlight: A Career in Mining Industry Series, hosting 50 students from three school districts at Gibraltar Mine for career education.
• Mitsui & Co.coreChannel Partner/ Reseller/ Distributor · 1 January 2022Strategic agreement with Mitsui to develop Florence Copper project in Arizona. Mitsui was involved in financing and offtake arrangements for the ISCR copper mine.
• Xatśūll First NationcoreStrategic or Co-development Partner · 1 January 2016Partnership through Fraser River Salmon Sampling Program, initiated in 2016, to provide communities information about safety of consuming salmon from traditional fishing sites on the Fraser River near Gibraltar Mine. Program resumed community events post-Covid.
• Environmental DynamicsminorStrategic or Co-development Partner · 1 January 2016Environmental management and monitoring company specializing in aquatic sciences, partnered with Gibraltar Mine and Indigenous communities for the Fraser River Salmon Sampling Program.
• Northern Shuswap Tribal CouncilcoreStrategic or Co-development Partner · 1 January 2016Partner in the Fraser River Salmon Sampling Program with Gibraltar Mine, representing Indigenous communities near the mine operations.

Scale indicators20 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Hudbay Minerals: Hudbay Minerals is a Canadian-based copper and gold producer with operating mines in Manitoba, British Columbia, and Peru. Most directly comparable to Trekor in scale, North American operational footprint, and copper-focused multi-asset profile, making it the closest mid-cap peer for benchmarking capital allocation, mine economics, and growth pipeline.
• First Quantum Minerals: First Quantum Minerals is a global copper miner with major operations in Zambia (Sentinel, Kansanshi), Panama (Cobre Panamá), and Spain. Comparable as a mid-to-large copper-focused producer with multi-asset operations, though First Quantum operates at a larger scale and with more international jurisdictional exposure than Trekor's North American focus.
• Lundin Mining: Lundin Mining is a Canadian base metals producer with copper, zinc, and nickel operations in Chile, Brazil, Portugal, and Sweden. Comparable as a multi-asset, copper-anchored mid-cap producer with diversified commodity exposure and a growth pipeline that mirrors Trekor's strategy of layered production growth through project development.
• Capstone Copper: Capstone Copper is a pure-play copper producer with operations in Chile, Mexico, and Arizona (including the Pinto Valley mine in Arizona — same state as Trekor's Florence Copper). Comparable as a mid-cap, copper-focused producer pursuing a multi-asset growth strategy with exposure to both conventional mining and copper cathode production.
• Imperial Metals: Imperial Metals is a Vancouver-based mining company with the Mount Polley copper-gold mine in central British Columbia (referenced in Trekor's safety awards as a peer competitor). Directly comparable as a BC-focused base metals producer with similar geographic concentration and operational profile to Trekor's Gibraltar asset.

Broad incumbents

• Teck Resources: Teck Resources is a major diversified Canadian miner with significant copper (Quebrada Blanca, Highland Valley Copper in BC) and metallurgical coal operations. Comparable as a larger, established Canadian mining incumbent with overlapping BC operational footprint (Highland Valley Copper is referenced in Trekor's safety awards) and broader commodity diversification.
• Freeport-McMoRan: Freeport-McMoRan is the world's largest publicly traded copper producer, operating Grasberg (Indonesia), Morenci (Arizona), and other major assets. Comparable as a global copper incumbent with significant Arizona operational overlap (Morenci mine) and exposure to the same US copper demand dynamics that support Trekor's Florence Copper.
• Southern Copper: Southern Copper is one of the world's largest copper producers with integrated mining and smelting operations in Peru and Mexico. Comparable as a major, established copper-focused incumbent with vertically integrated operations, providing a benchmark for scale economics and copper cost curve positioning.
• Glencore: Glencore is a diversified mining and commodities trading giant with major copper exposure (Antapaccay, Las Bambas, Mount Isa). Comparable as a broad incumbent with both copper mining operations and global concentrate trading capabilities that overlap with Trekor's smelter offtake model.
• Antofagasta plc: Antofagasta plc is a Chilean copper mining group with four operating mines in Chile (Los Pelambres, Centinela, Antucoya, Zaldivar). Comparable as a major pure-play copper producer with a focus on long-life, low-cost assets — the same operational profile Trekor is pursuing with Gibraltar and Florence Copper.

Market position

Strengths1 record

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights7 records

Customer concentration

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Funding overview

Funding rounds

Investors

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M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Trekor Metals