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 was completed largely on budget at $275-million.

Planned Start /End Date
Construction of the commercial production facility started in January 2024. Production of copper cathode started in mid-February 2026, with the startup of the electrowinning circuit. The Florence SX/EW plant is now fully operational and copper plating is under way.

Latest Developments
Taseko Mines has started copper cathode production, with output for 2026 expected to range between 30-million and 35-million pounds as the project ramps up towards nameplate capacity. “A key driver of the ramp-up will be our ability to expand the wellfield and bring additional wells into production through the year,” President and CEO Stuart McDonald has said.

The project is designed to produce LME Grade A copper without conventional openpit mining and with limited surface disturbance. 

The focus has now shifted to wellfield operations and commissioning of the SX/EW plant.

The injection of mining solutions started in the fourth quarter of 2025, with commercial wellfield acidification starting in early November 2025. By early December, solutions were circulating in all new production wells. According to the company, initial injection flowrates exceeded expectations, resulting in faster acidification and rising copper grades in recovery wells, allowing for SX/EW plant operations to start.

Drilling to expand the wellfield resumed in the fourth quarter, with three rigs currently operating and a fourth scheduled to arrive on site.

Key Contracts, Suppliers and Consultants
None stated.

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