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Taseko Mines (NYSE:TGB) +16.9% in early trading Thursday after saying the U.S. Environment Protection Agency issued a final underground injection control permit for its Florence Copper project in Arizona, which should enable construction to begin soon.
“We now have one of a very few construction-ready, fully permitted copper projects in North America,” Taseko (TGB) President and CEO Stuart McDonald said. “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.”
Taseko (TGB) said Florence Copper will have a production capacity of 85M lbs/year at $1.11/lb cash operating costs over a 22-year mine life.
Based on a March 2023 technical report, supported by results from operation of a production test facility, the project has an 8% after-tax net present value of $930M at a $3.75/lb copper price.
