Taseko completes Florence construction, sees higher second-half output

(Alliance News) - Taseko Mines Ltd on Tuesday said construction at its Florence copper project is now complete, with commissioning of the SX/EW plant set to begin shortly, as it also reported higher copper output at its Gibraltar mine in the second half of 2025.

The miner, which operates the open-pit Gibraltar copper mine in British Columbia, Canada, said activity at Florence has shifted from construction to wellfield operations and commissioning.

Wellfield acidification began in early November, with mining solutions circulating in all new production wells by early December.

Taseko said injection flow rates have met or exceeded expectations, accelerating initial acidification of the commercial wellfield.

Copper grades recovered in solution have continued to rise and have now reached levels required for SX/EW plant operations. Commissioning has progressed without significant issues and plant operations are expected to commence shortly.

President & Chief Executive Officer Stuart McDonald said: "The transition from construction to early-stage operations at Florence has gone smoothly, and we are very pleased with the initial copper recoveries and performance of the commercial wellfield. Our project team is focused on the successful start-up of the SX/EW plant in the coming days, followed by first copper cathode production within a few weeks."

At the Gibraltar mine, Taseko reported 2025 copper production of 98 million pounds and molybdenum production of 1.9 million pounds. Copper sales totalled 99 million pounds for the year, alongside 1.9 million pounds of molybdenum.

Fourth-quarter copper production rose to 31 million pounds, marking an increase from earlier quarters.

McDonald said production in the second half of 2025 improved on the first half due to higher grades and better-quality ore.

Looking ahead, he said: "[In] 2026, we expect more consistent quarterly production, now that we are better situated in the Connector pit, and higher overall copper production."

Taseko shares rose 4.0% to 467.90 pence in London on Tuesday afternoon.

By Eva Castanedo, Alliance News reporter

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