Taseko Releases Construction Update on Its Florence Copper Project, Arizona
[Click image to enlarge]
Taseko Mines has released a progress update for construction activities at its Florence Copper project.
To-date, approximately 300,000 project hours have been worked and there have been no reportable injuries or environmental incidents. There are currently 280 construction personnel at site. All activities are advancing on schedule and is 40 percent complete. First copper production is still anticipated in the fourth quarter 2025.
Since construction commenced earlier this year, the bulk of activities have been focused on earthworks, concrete, and wellfield drilling. Installation of structural steel, tanks, and process equipment is now underway.
“We are pleased with progress through the first nine months of construction. With approximately 75 percent of total construction costs now committed, we expect total costs to be within 10-15 percent of the original $232 million estimate. The project remains on track for first copper production in late 2025, which will be a transformative event for our company,” said Stuart McDonald, president and CEO of Taseko.
“In addition, we have applied to the U.S. Department of Energy’s Qualifying Advanced Energy Project Credit (48C) Program. Florence Copper, which is set to become North America’s lowest GHG-intensity primary copper producer, qualifies as a critical materials project,” added McDonald.
“After submitting a concept paper in June, we received encouragement to proceed with the full application. We have now filed the application seeking a tax credit of up to $110 million, and we expect to hear whether Florence qualifies for the credit, or not, in January 2025,” concluded McDonald.
Summary of key activities and status as of September 30, 2024:
• Earthworks and site preparation for the plant area and commercial wellfield: ~75 percent complete
• Concrete foundations for SX/EW plant and associated infrastructure: ~50 percent complete
• Pre-assembly and installation of structural steel for the solvent extraction plant commenced in August
• Installation of process equipment commenced in September
• Powerline installation: ~65 percent complete
• Wellfield drilling: a total of 34 production wells completed to date, out of a total of 90 to be drilled during the
construction phase
• Point of compliance well drilling: 9 wells completed to date, out of a total of 18
• Construction of process and surface water runoff ponds
• Hiring permanent operating staff: 75 of 170 total positions and all but one key management position has been
filled
The company recently hosted a Florence Copper site tour and the associated presentation can be found HERE.
Headquartered in Vancouver, British Columbia, Canada, Taseko Mines is a dynamic North American mining company driven to unlock the true value of copper for its investors, employees, communities, and for a complex and changing world. Taseko’s corporate strategy has been to grow the company sustainably and profitably by focusing on the continued operations of its foundational asset, the Gibraltar Mine in central BC, and the advancement of North America’s next copper producer, Florence Copper in Arizona — while also advancing its pipeline of high-quality, advanced-stage development projects, including the Yellowhead copper project and the Aley niobium project.
Be in-the-know when you’re on-the-go!
FREE eNews delivery service to your email twice-weekly. With a focus on lead-driven news, our news service will help you develop new business contacts on an on-going basis.
CLICK HERE to register your email address.
Copyright © 2024 Mining Connection LLC. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.
For licensing permission, .(JavaScript must be enabled to view this email address)
