Taseko secures final permit for Arizona copper mine
Canadian mining company Taseko Mines has received the final permit to build its 85-million-pound-a-year copper mine in Arizona.
The company on Thursday announced that the US Environmental Protection Agency (EPA) had issued the final underground injection control permit (UIC) for the Florence copper project.
“We now have one of a very few construction-ready, fully permitted copper projects in North America. With approvals in place from the Arizona Department of Environmental Quality and now the EPA, we can commence construction of the Florence Copper commercial production facility,” said Taseko president and CEO Stuart McDonald.
With procurement well advanced, the next steps would be mobilisation 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.”
When commercial operations begin, Florence Copper will have a yearly production capacity of 85-million pounds of copper at $1.11 per pound C1 cash costs over a 22-year mine life. Based on a March 2023 technical report for the project, which is supported by results from the successful operation of a production test facility, the project has an after-tax net present value of $930-million at a copper price of $3.75/lb.
“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 openpit or underground mining operation of comparable size. Low water use, low energy consumption and low carbon emissions make Florence copper an exceptionally green project that will supply refined copper to the rapidly growing US domestic market,” said McDonald.
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