Taseko begins copper production at Florence Copper project
For Gibraltar, Taseko expects 2026 copper production to range between 110 and 115 million pounds, representing an increase from 2025 levels.
SEATTLE (Scrap Monster): Taseko Mines Limited (TSX:TKO; NYSE American:TGB; LSE:TKO) announced Wednesday that copper cathode production has commenced at its Florence Copper project in Arizona, with the electrowinning circuit now operational and copper being plated.
The company reported that the Florence SX/EW plant is fully operational following the start of commercial wellfield acidification in November. Initial injection flowrates exceeded expectations, allowing for faster acidification of the wellfield.
Taseko also reported fourth quarter 2025 Adjusted EBITDA of $116 million and cash flow from operations of $101 million. The company recorded net income of $4 million ($0.01 per share) for the quarter and adjusted net income of $42 million ($0.11 per share).
Gibraltar mine produced 30.7 million pounds of copper in the fourth quarter at a total operating cost of US$2.47 per pound. For the full year 2025, Gibraltar produced 98.1 million pounds of copper and 1.9 million pounds of molybdenum.
'2025 was a productive and highly successful year for Florence Copper. With construction and commissioning now behind us, we’re looking forward to the first cathode harvest in the coming days,' said Stuart McDonald, President & CEO of Taseko, in the press release statement.
The company is targeting production of 30 to 35 million pounds of copper at Florence in 2026, with wellfield expansion underway to support production ramp-up. Currently, three drill rigs are operating at the site with a fourth arriving soon.
For Gibraltar, Taseko expects 2026 copper production to range between 110 and 115 million pounds, representing an increase from 2025 levels.
Construction of the Florence Copper commercial facility was completed on time and largely on budget at US$275 million, according to the company.
Courtesy: www.investing.com