Taseko Mines may be set to purchase an even larger stake in the Gibraltar Mine.
Currently, Taseko owns 75 percent of the Williams Lake are mine, while Cariboo Copper Corporation holds the remaining quarter.
Half of the shares held by Cariboo Copper are owned by Japan-based Sojitz Corporation.
Earlier this week, Sojitz revealed that they were in discussions with Taseko to sell off their 12.5 percent share in the mine.
While Taseko has now confirmed that confidential discussions had been taking place, they say no concrete agreement has been made.
They say that the potential transaction would consist of a modest up-front payment, plus 5 years of annual installments based on copper revenue.
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