Florence Copper Project: A Bright Future for Copper Production in Arizona

The global mining landscape is ever-evolving, with the Florence Copper Project in Arizona, United States, at the forefront of this transformation.

Owned entirely by Taseko Mines (TSX: TKO) (NYSE American: TGB), this project not only signifies a significant expansion in North American copper production but also sets new standards in sustainable mining practices and operational efficiency.

Scheduled to commence production in the fourth quarter of 2025, the Florence Copper Project is a fully permitted initiative promising an 80% growth in Taseko's copper production profile in the coming years. With initial investment for the construction of the SX/EW plant and other surface infrastructure already underway, the project is uniquely positioned to harness the most advanced and sustainable copper extraction technologies.

In November 2023, the U.S. Environmental Protection Agency issued the final permit required to commence construction in Florence, which, once operational, will have an annual capacity of 85 million pounds of Grade A LME copper and a lifespan of 22 years. This milestone reflects not only significant progress in terms of mining project development but also a commitment to the most rigorous environmental standards. 

Last year, Taseko recorded record revenues of $525 million, a 34% increase compared to 2022, largely attributable to the operation of the Gibraltar mine in British Columbia. With a total production of 122.6 million pounds of copper in 2023, Taseko not only exceeded its own projections but also demonstrated the effectiveness of its operations with a copper recovery rate of 82.6%.

With construction of the Florence Copper Project progressing as planned, Taseko is now focusing on initial site preparation and detailed planning for the implementation of the SX/EW plant and surface infrastructure. This project will not only bolster Taseko's position as a leader in copper production in North America but also set a new precedent in copper mining for its efficiency, sustainability, and commitment to local communities. 

The Gibraltar mine, meanwhile, will remain the primary mill feed source during the first half of 2024, before transitioning mineral mining to the Connector Pit in the latter half of the year. Reactivation of the SX/EW facility at the Gibraltar mine is slated for 2026, underscoring Taseko's commitment to innovation and long-term sustainability.

This project not only represents a significant advancement in copper production but also reflects a broader vision of what modern mining can and should be. With a combination of advanced technology, sustainable practices, and strong financial management, Taseko Mines is positioning itself not only as a leader in the copper industry but also as a role model in responsible and sustainable mining.