Taseko provides construction update on Florence Copper project

Construction continues to advance on schedule and first copper production is still targeted before the end of 2025. Overall project completion was at 78% as of 31 March 2025. During the first quarter there were approximately 440 contract personnel on site and 230 000 project hours were worked. Total project hours to-date are roughly 670 000, and there have been no reportable injuries or environmental incidents.

Summary of key activities in the first quarter:

• 29 production wells were drilled and constructed in the quarter, for a total of 80 out of the 90 wells planned to be drilled during the construction phase.
• Point of compliance well drilling was completed in the quarter.
• Work on the building structure for the electrowinning facility was completed except for the final roof and wall sections that will be installed after the electrowinning overhead crane is installed in April.
• Installation of the cathode stripping machine started in March.
• The solvent extraction area continues to advance with a focus on pipe and settler welding and electrical installation.
• Hydrotesting of all the field erected tanks was completed.
• Sandblasting and painting of the carbon steel tanks was completed.
• Factory acceptance testing of the tank farm E-house was completed and it was delivered to site.
• Assembly of the modular office and dry buildings was completed, and work on the exterior finishing started.
• The substation area progressed and the installation of major equipment is well advanced.
• Work on surface infrastructure advanced and installation of high-density polyethylene piping in the main pipeline corridor continued and the storm water box culvert under the pipe corridor was completed.

Another significant recent milestone for Florence Copper is the authorisation to reuse a portion of surplus process water from operations. Approximately 25% of the Florence Copper property is used for agriculture, and with the new permit, this excess process water will replace irrigation water that is currently drawn from other sources. This will result in more water available for other users in the project area.

Stuart McDonald, President & CEO of Taseko, commented:

“After 15 months, construction progress continues to track to our original schedule. Wellfield drilling activity is now ramping down and will be completed on schedule in May, and we are steadily advancing towards first copper production later this year. Construction expenditures have been in line with expectations and our previous capital cost guidance remains unchanged. The project is in great shape and Florence Copper will soon become a major new supplier of copper cathode for the US market. The project is uniquely positioned to produce and sell refined copper inside the United States and potentially benefit from premium COMEX copper pricing in the coming years.

“Despite the recent market volatility, the long-term fundamentals for copper remain robust. In the short-term, Taseko has copper hedges in place that protect a minimum copper sales price of US$4.00 /lb for most of Gibraltar’s production for the balance of 2025.”

Read the article online at: https://www.globalminingreview.com/exploration-development/22042025/taseko-provides-construction-update-on-florence-copper-project/