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VANCOUVER - Taseko Mines Limited (TSX:TKO; NYSE American:TGB; LSE:TKO) has commenced wellfield operations at its Florence Copper project in Arizona, marking the start of the commercial production facility, according to a press release statement issued today.
The company reported that the SX/EW plant area achieved substantial completion on September 19, with the general contractor beginning to demobilize construction crews. Commissioning of the plant is running parallel with wellfield operations, with first copper cathode production expected in approximately three months.
"Commencement of wellfield operations is a fantastic milestone for Florence Copper, and a great achievement that our construction team in Arizona has accomplished in less than two years," said Stuart McDonald, President and CEO of Taseko.
The company also reported third quarter operational results from its Gibraltar Mine, which produced 27.6 million pounds of copper, including 900,000 pounds of copper cathode, and 560,000 pounds of molybdenum. This represents increases of 39% and 211% respectively over the previous quarter. The company sold 26.3 million pounds of copper during the quarter.
Mill throughput at Gibraltar reached design capacity of 85,300 tons per day with copper recoveries averaging 77% for the third quarter and 83% for September. Copper head grades were 0.22%, which the company noted was behind plan but still an improvement over previous quarters.
Taseko has revised its 2025 annual production forecast for Gibraltar to between 100 and 105 million pounds of copper, noting it will not recover production shortfalls from recent months despite expecting another significant production increase in the fourth quarter.
The Florence Copper project represents a new source of refined copper production within the United States, with first copper cathode expected in about three months.
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