Taseko Mines announces first Florence Copper cathode "harvest"

(Alliance News) - Taseko Mines Ltd said its Florence Copper operation in Arizona has "harvested" its first copper cathodes.

The Vancouver, Canada-based and copper-focused mining company said the cathodes were harvested from Florence's recently completed commercial production facility last week, marking "the first new copper production from a greenfield facility in the US since 2008."

It added that overall US copper production has been "essentially flat in recent years" but that demand continues to rise globally, making Florence's latest milestone "an important step forward for America's critical minerals strategy".

Taseko had announced the start of copper production, and the start-up of Florence's electrowinning plant, in late February.

Taseko expects the operation to produce a minimum of 1.5 billion pounds of copper over the next 22 years, stating: "Once Florence Copper achieves its nameplate capacity of 85 million pounds of LME Grade A copper metal per year, Taseko will become the third largest copper cathode producer in America."

"The production of first copper in Arizona represents a landmark achievement for the Florence Copper team and a major milestone for Taseko, as we continue our journey to become a leading North American copper producer," commented Chief Executive Stuart McDonald. "Producing LME Grade A copper cathode for America's manufacturing sector, including automotive, semiconductor, defense/aerospace and AI data centers, will meaningfully strengthen US manufacturing and supply chain security.

"All of the copper metal produced at Florence will remain in the US to help address America's growing reliance on copper imports...We are proud to be making copper in the United States, and we look forward to continuing to grow our business as a leading North America-focused copper producer."

Shares in Taseko were 2.4% higher at 650.00 pence on Monday afternoon in London.

By Emma Curzon, Alliance News reporter

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