December 1, 2009 (FinancialWire) — Taseko Mines Lted. (AMEX: TGB) said it has signed a letter of intent with Sojitz Corp. to establish by early 2010 a joint venture over Taseko’s Gibraltar copper/molybdenum mine in which Taseko will hold 75% and Sojitz 25%.

Sojitz will pay around $180 million to Taseko for its 25% interest. Taseko will continue to be the operator of Gibraltar.

The completion of this transaction is subject to ongoing Sojitz due diligence activities, the negotiation and execution of mutually acceptable definitive binding agreements and customary closing deliveries.

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