Taseko Provides Construction Update on Florence Copper Project
At the end of June, construction of the commercial production facility was over 90% complete, and the project remains on schedule for first copper cathode production before the end of this year. Over 900,000 project hours have been worked with no reportable injuries or environmental incidents on the project to date. Currently, there are approximately 330 construction and support personnel on site, down from the peak levels in the first quarter.
Stuart McDonald, President & CEO of Taseko, commented, 'The first 18 months of construction has gone exceptionally well, demonstrating the quality and experience of our on-site owner's team and contractors. Construction activities are advancing on plan and project areas will soon start the transition to commissioning. A few notable milestones have recently been achieved. In the wellfield, all the injection and recovery wells planned for the construction phase have now been drilled and completed. Drilling will recommence after plant commissioning to expand the current wellfield and allow for copper production to ramp up to the full 85 million pound per year plant capacity. Also, last week, a key component of the site infrastructure was completed with APS (the local utility) energizing the site 69kV electrical substation.'
'Operational readiness remains a key focus for site management. Hiring full-time staff, training, and developing operational workflows are all ongoing to ensure our team is well-positioned for commercial operations in just a few months. A detailed operating plan for the 2026 ramp up is also being developed and will be finalized after acidification of the wellfield commences in the fall.'
'Florence Copper will be the next major U.S. supplier of domestically produced copper cathode. The potential for 50% tariffs on copper imports into the United States has driven the Comex copper price to record levels in recent weeks. It's a great time to be bringing on a new U.S.-based copper mine, and a high Comex copper price premium would provide a further boost to Florence Copper's already strong project economics,' concluded Mr. McDonald.
For further information on Taseko, see the Company's website at
tasekomines.com
or contact:
Stuart McDonald
President and CEO
No regulatory authority has approved or disapproved of the information contained in this news release
Caution Regarding Forward-Looking Information
This document contains 'forward-looking statements' that were based on Taseko's expectations, estimates and projections as of the dates as of which those statements were made. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as 'outlook', 'anticipate', 'project', 'target', 'believe', 'estimate', 'expect', 'intend', 'should' and similar expressions.
Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the Company's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. These included but are not limited to:
For further information on Taseko, investors should review the Company's annual Form 40-F filing with the United States Securities and Exchange Commission
www.sec.gov
and home jurisdiction filings that are available at
www.sedarplus.ca
, including the 'Risk Factors' included in our Annual Information Form.
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