Taseko Mines secures EPA permit for Florence Copper Project in Arizona
Taseko Mines Limited has announced the issuance of a final Underground Injection Control Permit (UIC) from the US Environment Protection Agency (EPA) for its Florence Copper Project. With this crucial permit, the construction of the Florence Copper commercial production facility can commence, supported by an after-tax NPV (8%) of US$930 million and an annual production capacity of 85 million pounds of copper.
CEO Stuart McDonald on the Milestone Achievement
Stuart McDonald, President and CEO of Taseko, stated, “Receipt of this final permit is an exciting milestone for Taseko and a testament to the project’s strong environmental attributes. We now have one of a very few construction-ready, fully permitted copper projects in North America.” McDonald continued, “With procurement well advanced, the next steps will be mobilization of contractors for the wellfield and SX/EW plant construction. We continue to advance discussions with potential lenders and royalty providers for the remainder of the project financing package and expect to have additional commitments in place before construction spending ramps up.”
Florence Copper: Project Economics and Environmental Benefits
According to a March 2023 Technical Report, Florence Copper is expected to produce 85 million pounds of copper annually at a cost of US$1.11 per pound over a 22-year mine life. McDonald concluded, “The Florence Copper Project is one of the least capital-intensive copper projects in the world and will have an environmental footprint smaller than any conventional open-pit or underground mining operation of comparable size.”
Community and Environmental Impact
Located in the historic Copper Corridor of Arizona, Florence Copper offers strong economic benefits to the community and the state. The project is expected to create approximately 500 jobs in Pinal County and generate $3.4 billion in economic activity for Arizona over its lifetime. Additionally, Florence Copper employs advanced in-situ copper recovery (ISCR) technology, contributing to an extremely small environmental footprint.