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
Taseko Mines reported in a January 14 update that it had completed construction and was advancing into commissioning and early operations.

Activity has shifted to wellfield operations and commissioning of the SX/EW plant. Wellfield acidification started in early November and, by early December, mining solutions were circulating in all new production wells within the commercial wellfield.

The company has indicated that injection flow rates have met, or exceeded, expectations to date, accelerating initial acidification. Copper grades in solution from the recovery wells have continued to increase, with average solution grades now at levels required for SX/EW operations. Commissioning of the SX/EW plant has progressed without significant issues, with plant operations expected to start shortly.

Wellfield drilling has also resumed, with three drill rigs operating on site to support expansion of the commercial wellfield and higher solution flows as part of the 2026 ramp-up.

Key Contracts, Suppliers and Consultants
None stated.

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