TGB - TASEKO MINES ANNOUNCES RECEIPT OF FINAL PERMIT FOR THE FLORENCE COPPER PROJECT | Benzinga
VANCOUVER, BC, Sept. 14, 2023 /PRNewswire/ - Taseko Mines Limited (TSX:TKO) (NYSE:TGB) (LSE: TKO) ("Taseko" or the "Company") is pleased to announce that the US Environment Protection Agency ("EPA") has issued a final Underground Injection Control Permit ("UIC") for the Florence Copper Project ("Florence Copper" or the "Project").
Stuart McDonald, President and CEO of Taseko, commented, "Receipt of this final permit is an exciting milestone for Taseko and a testament to the project's strong environmental attributes. 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. This achievement is a major stride forward and a result of Taseko's long-term approach to project development, environmental protection, and community engagement."
Mr. McDonald continued, "With procurement well advanced, the next steps will be mobilization 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 an annual production capacity of 85 million pounds of copper at US$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 NPV (8%) of US$930 million at a copper price of US$3.75 per pound.
"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 open-pit 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," concluded Mr. McDonald.
The Florence Copper NI 43-101 technical report is available on www.sedar.com or the Company's website at www.tasekomines.com.
Stuart McDonald
President and CEO
No regulatory authority has approved or disapproved of the information contained in this news release.
CAUTION REGARDING FORWARD-LOOKING INFORMATION
This document contains "forward-looking statements" that were based on Taseko's expectations, estimates and projections as of the dates as of which those statements were made. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "outlook", "anticipate", "project", "target", "believe", "estimate", "expect", "intend", "should" ...