Canadian miner Taseko Mines Limited has begun copper cathode production at its new Florence Copper operation in Arizona, US, with output for 2026 expected to range between 30-million and 35-million pounds as the project ramps up toward nameplate capacity.

The in-situ recovery project is designed to produce LME Grade A copper without conventional openpit mining and with limited surface disturbance. At full capacity, Florence Copper is expected to produce about 85-million pounds a year.

Construction activities were completed in the fourth quarter of 2025, largely on budget at $275-million, and the focus has now shifted to wellfield operations and commissioning of the solvent extraction and electrowinning (SX/EW) plant.

Production of copper cathode started in mid-February with the startup of the electrowinning circuit. The Florence SX/EW plant is now fully operational and copper plating is under way.

Injection of mining solutions began in the fourth quarter of 2025, with commercial wellfield acidification starting in early November. 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, enabling SX/EW plant operations to begin.

President and CEO Stuart McDonald said 2025 was a highly successful year for Florence Copper. "With construction and commissioning now behind us, we are looking forward to the first cathode harvest in the coming days," he said on Wednesday.

"For the year ahead, the team’s focus will be ramping up the operation to production capacity. Results from the initial wellfield operations are positive and we are targeting to produce 30-million to 35-million pounds of copper in 2026. A key driver of the ramp-up will be our ability to expand the wellfield and bring additional wells into production through the year,” he said.

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

STRONG FOURTH QUARTER AT GIBRALTAR
Taseko reported full-year 2025 revenues of C$673-million from the sale of 99-million pounds of copper and 1.9-million pounds of molybdenum. 

For the fourth quarter, revenues increased to C$243.8-million on copper sales of 31.6-million pounds at an average realised price of C$5.13/lb. Net income for the quarter was C$4.5-million.

At the company’s 100%-owned Gibraltar mine in British Columbia, Canada, copper production totalled 98.1-million pounds for 2025 at a C1 cost of C$2.66/lb, in line with 2024. Fourth-quarter output improved to 30.7-million pounds, supported by higher head grades of 0.26% and recoveries averaging 81%.

Mining during the year focused on the Connector pit, which is expected to remain the primary ore source through to 2028. Higher mining rates and improved productivity lifted total material mined to 110.9-million tons in 2025, up from 88.3-million tons in 2024.

Looking ahead, the company expects Gibraltar to produce between 110-million and 115-million pounds of copper in 2026, with molybdenum output remaining at similar levels to 2025. Copper collar contracts are in place to protect minimum pricing during the Florence ramp-up period.

“Bringing our second mine into production will be a major accomplishment for the company, and we are looking forward to ramping up Florence and demonstrating the true value of this asset. At the same time, we will continue to work to unlock value from our other projects, Yellowhead and New Prosperity, which both achieved significant milestones in 2025,” McDonald said.