Taseko expects first Cu cathode in coming weeks as Florence Copper nears startup

Taseko

Taseko expects first Cu cathode in coming weeks from its Florence Copper project in Arizona. The company has completed construction at Florence Copper. As a result, Taseko expects first Cu cathode in coming weeks after missing its earlier end-2025 startup target.

Taseko expects first Cu cathode in coming weeks while it also leans on its producing Gibraltar mine in British Columbia. Gibraltar delivered 31mn lbs of copper in the fourth quarter, up 12pc from the third quarter. Meanwhile, 2025 copper output reached 98mn lbs, slightly below the company’s earlier projection.

Florence Copper startup adds a new US copper cathode stream

Florence Copper matters because it should diversify Taseko’s production base beyond Gibraltar. The project also positions Taseko inside the US copper supply chain. Therefore, the first cathode milestone becomes a key credibility marker for schedule execution.

Startup timing still shapes near-term sentiment. However, construction completion reduces execution risk versus earlier phases. As a result, investors will shift attention to ramp-up stability, recovery rates, and operating cost performance.

Gibraltar performance sets the 2026 baseline

Gibraltar performance matters because it funds growth and smooths cash flow. The mine’s 2025 copper output fell slightly short due to unscheduled maintenance and a temporary shutdown after a serious accident in November. Meanwhile, molybdenum output improved, with 800,000 lbs produced in the fourth quarter and 1.9mn lbs for the year.

Management expects more consistent quarterly production in 2026. Therefore, Gibraltar’s reliability will remain central even as Florence Copper starts producing. However, operational discipline and safety performance will stay under scrutiny after the November incident.

The Metalnomist Commentary

This is a classic transition moment from build to operate, and the first cathode is the real starting gun. However, the market will judge Florence Copper on ramp-up consistency, not the first pour. If Gibraltar stabilises, Taseko can enter 2026 with stronger production cadence.