Name of the Project
Florence Copper in situ copper recovery (ISCR) facility.

Location
Arizona, in the US.

Project Owner/s
Florence Copper Incorporated, a wholly owned subsidiary of midtier copper producer Taseko Mines.

Project Description
The Florence deposit contains 2.5-billion pounds of copper in 345-million tons of probable reserves.

The project proposes to build and operate the Florence Copper ISCR facility, and produce 85-million pounds a year of copper over the 22-year life-of-mine (LoM). 

ISCR is an extraction method used for selected mineral deposit conditions as an alternative to openpit or underground mining methods.

ISCR extracts copper by injecting a weak sulphuric acid solution, referred to as raffinate, through targeted portions of the mineral deposit using an array of injection wells. The raffinate passes through natural fractures and voids in the deposit and dissolves the copper mineralisation.

The copper laden solution, known as pregnant leach solution (PLS), is collected in recovery wells where it is pumped to the surface for processing. Copper is extracted from the PLS using solvent extraction and electrowinning (SX/EW) techniques producing a saleable copper cathode product.

Potential Job Creation
As of July 2025, about 330 workers were on site, down from peak levels in the first quarter.

Net Present Value/Internal Rate of Return
The project has an after-tax net present value, at a 8% discount rate, of $930-million and an internal rate of return of 47%, with a payback of 2.6 years.

Capital Expenditure
The project has an initial capital expenditure of $232-million.

Planned Start /End Date
Construction of the commercial production facility started in January 2024, and first copper is expected to be produced in the fourth quarter of 2025.

Latest Developments
Construction is nearing completion, with more than 90% of the work done. The project is still on track to start producing copper cathode by the end of 2025. 

Taseko president and CEO Stuart McDonald has stated that construction activities are advancing as planned, and project areas will soon start transitioning to commissioning.

Further, several key milestones have recently been achieved. In the wellfield, all the injection and recovery wells planned for this construction phase have been drilled and are operational. Drilling will resume after the plant is commissioned to expand the wellfield and increase copper production to its full capacity of 85-million pounds a year. Additionally, a vital piece of site infrastructure – the 69 kV electrical substation – has been powered up.

The company is now concentrating on getting ready for operations before commissioning, which includes hiring staff, providing training, and developing work procedures.

McDonald has emphasized that operational readiness remains a key focus for site management, with the company actively hiring full-time staff, conducting training, and establishing operational workflows to ensure the team is well-prepared for commercial operations in a few months. A detailed operating plan for the 2026 production increase is also being developed and will be finalised once the wellfield acidification starts.

Key Contracts, Suppliers and Consultants
None stated.

Contact Details for Project Information
Taseko Mines, tel +1 778 373 4533 or email investor@tasekomines.com.