Gibraltar Development Plan 3 (GDP3) was originally planned to commence in 2009, but with the crash of the world financial markets and devalued copper price in late 2008, the Company placed the plans on hold.
In the spring of 2011, construction commenced for Gibraltar Development Plan 3 (GDP3). GDP3 included the construction of a standalone 30,000 ton per day concentrator, built adjacent to the existing 55,000 ton per day facility. The new design capacity of Gibraltar was designed to be 85,000 tons per day. An integral part of the project was a new molybdenum recovery facility. In addition to the new concentrator, the mining fleet will be upgraded with a new mining shovel, production drill and ten haul trucks
Capital costs for GDP3 were $235 million for the concentrator and molybdenum plant and approximately $90 million for mining equipment. GDP3 was completed on time and on budget in Q4 2012 and commissioning began in December 2012. In early 2013, first concentrate from GDP3 was produced and Gibraltar's processing capacity increased to 85,000 tons per day.