|
Taseko Mines Ltd said on Wednesday that it is commencing wellfield operations at its Florence copper mine, marking the beginning of the mine’s commercial production facility. The Vancouver, Canada-based mining company said the first copper cathode is expected to be produced in about three months at the Florence copper project, which is located in Arizona. Chief Executive Officer Stuart McDonald said: ‘Commencement of wellfield operations is a fantastic milestone for Florence copper, and a great achievement that our construction team in Arizona has accomplished in less than two years. We have successfully executed on this major capital project and look forward to first copper production and a successful ramp-up of the operation in the months ahead.’ In its third quarter operational results, Taseko said its Gibraltar mine produced 27.6 million pounds of copper, including 900 thousand pounds of copper cathode, and 560 thousand pounds of molybdenum. This represents an increase of 39% and 211% respectively from the second quarter, where there was 395 thousand pounds of copper cathode and 180 thousand pounds of molybdenum produced. Copper head grades of 0.22% were behind plan, although still a ‘significant improvement’ over the previous two quarters, which were 0.20% in the second quarter and 0.19% in the first quarter. McDonald said: ‘We expect another significant production increase in the fourth quarter, but will not recover the production shortfall from recent months. Annual production for 2025 is now expected to be 100 to 105 million pounds of copper. ‘With copper prices approaching record levels, and a growing focus on security of critical mineral supply, the timing is ideal to bring on a major new source of refined copper inside the United States. With first copper cathode expected to be produced from Florence in about three months, and increasing production from our Gibraltar mine, we’re becoming a more diversified copper miner in top tier mining jurisdictions.’ Taseko shares closed down 0.4% at 323.66 pence in London on Wednesday. Copyright 2025 Alliance News Ltd. All Rights Reserved.
|
