The Mexico-focused miner has benefitted from an ongoing silver rally and even more so than many of its peers, as it chose not to diversify into other metals.
The news comes two weeks after Taseko revealed it was considering restarting the molybdenum circuit at Gibraltar mine, which has been idled since the third quarter of 2015 due to low metal prices.
Deal comes at a time of improved steel demand from China and mimics an effort by the UK government to rescue Tata Steel's Port Talbot operations to save jobs.
The largest crude oil producer in Canada announced net losses of C$735 million after Alberta wildfires near Fort McMurray forced its oils sands operations to be temporarily suspended back in May.