Taseko Florence Copper Project Starts Cathode Ramp-Up in Arizona

Taseko

Taseko Florence copper project has started producing copper cathode in Arizona, giving Canadian producer Taseko Mines its first commercial metal from the US in-situ copper development. The project’s solvent extraction and electrowinning plant started operations in mid-February and produced 1.5mn lb, or about 680t, of copper cathode in the first quarter.

The Taseko Florence copper project is important because it uses in-situ copper recovery rather than conventional open-pit mining. The process leaches copper underground and recovers it through solution flows before producing cathode through solvent extraction and electrowinning.

The Taseko Florence copper project offers a different supply model for the US copper market. It can reduce upfront capital intensity compared with traditional mining, but it depends on careful control of underground leaching, solution movement, grades and environmental performance.

Taseko previously targeted 40mn-50mn lb of copper output from Florence in 2026. The company expects production to rise to 80mn lb in 2027 as the project moves through ramp-up.

Florence Adds US Cathode Capacity With Lower Mining Intensity

Florence’s first cathode production marks a key operational step for Taseko. The project is now moving from construction and commissioning into the early stage of commercial production.

The in-situ recovery model gives Florence strategic relevance. It avoids large-scale excavation and instead relies on controlled leaching below ground, which can reduce surface disturbance and capital needs.

However, the method also requires disciplined technical execution. Operators must manage solution chemistry, wellfield performance, recovery rates and environmental controls to ensure the process remains stable.

Florence’s output will come as refined copper demand becomes increasingly tied to electrification, grid investment, data centres, electric vehicles and domestic manufacturing. US cathode supply is strategically important because refined copper availability affects wire, cable, power equipment and industrial users.

The project’s cost exposure also looks partly protected in the near term. Taseko said Florence will not face the sharp recent rise in sulphuric acid prices because its acid supply is locked under a fixed-price contract for this year.

That protection matters. Sulphuric acid has become a more sensitive cost input for copper leaching operations because Middle East disruption and tighter sulphur flows have lifted market concerns. A fixed-price contract gives Florence more cost visibility during its early ramp-up.

Gibraltar Output Jumps as Diesel Costs Add Pressure

Taseko’s established Gibraltar mine in British Columbia also delivered a stronger first quarter. Copper output rose to 30mn lb, or about 13,600t, up 50% from a year earlier.

The increase was supported by steadier grades and better recoveries. This suggests Gibraltar benefited from improved operating performance rather than only stronger throughput.

Molybdenum output also rose sharply. Gibraltar produced 717,000 lb, or about 325t, of molybdenum in the first quarter, up 113% from a year earlier.

Molybdenum by-product output can improve mine economics because it adds revenue beyond copper. It also links Gibraltar to special steel, stainless steel, energy equipment and high-strength alloy demand.

Sales lagged production slightly because of shipping timing. This means some of the production benefit may flow through later, depending on shipment schedules and realized prices.

Cost pressure remains a risk. Taseko said higher diesel prices could add 10-15¢/lb to Gibraltar costs this year, equivalent to about $220-330/t.

Diesel exposure is important for open-pit mines because haulage, mobile equipment and site logistics rely heavily on fuel. If energy prices remain elevated, Gibraltar’s operating costs could rise even as production performance improves.

Taseko’s first-quarter update therefore shows two different copper stories. Florence is entering ramp-up as a new US cathode asset with fixed acid pricing, while Gibraltar is producing more copper and molybdenum but faces higher fuel-cost risk.

The Metalnomist Commentary

Taseko’s update shows how copper supply growth is increasingly tied to project type and cost exposure. Florence offers a lower-mining-intensity US cathode route, while Gibraltar highlights the continuing importance of grade, recovery and diesel costs in conventional copper mining.

Taseko Florence Copper Project Begins Cathode Production in Arizona

Taseko Mines Florence

Taseko Florence Copper project has reached a major milestone with the start of copper cathode production in Arizona. The company said production began earlier this week and expects its first cathode harvest within days. It also expects 30-35mn lbs of copper output from the Florence Copper project this year. As a result, Taseko Florence Copper project is moving from construction into commercial production.

This matters because the Florence Copper project gives Taseko a new source of Arizona copper cathode at a time when US copper supply remains strategically important. The company had already signaled in January that production was close after construction finished in the fourth quarter. Now the project has entered its next phase with actual cathode output. Therefore, Taseko Florence Copper project is becoming one of the more important near-term US copper ramp-ups.

Florence Copper Project Ramp-Up Now Depends on Wellfield Expansion

Florence Copper project still has more work ahead before reaching full production capacity. Taseko said it must expand wellfield operations to continue ramping output. The company currently has three drill rigs at the site and will add a fourth rig within the next week. As a result, the pace of wellfield expansion will directly shape how quickly the Florence Copper project reaches full operating potential.

This is important because early production milestones often attract attention, but ramp-up execution determines the project’s real long-term value. A smooth wellfield expansion would improve confidence in the company’s operating plan. However, delays could slow the path toward higher Arizona copper cathode volumes. Meanwhile, the current 2025 guidance gives the market a clear first benchmark for performance.

Taseko Copper Production Gains Support Beyond Florence

Taseko copper production is also expected to improve beyond Arizona. The company expects output at its Gibraltar mine in British Columbia to rise to 110-115mn lbs in 2026 from 98mn lbs in 2025. Gibraltar also produced 2.2mn lbs of copper cathode last year. Therefore, Taseko copper production is being supported by both a new US project and a stronger Canadian base.

The broader financial picture remains mixed. Taseko reported an annual loss in 2025, although it returned to quarterly profit in the fourth quarter. That makes the Florence Copper project even more important to the company’s growth story. Consequently, stronger production from Florence and Gibraltar could become central to improving financial performance over the next year.

The Metalnomist Commentary

This start-up matters because Florence is no longer a development promise. It is now a producing copper asset with clear near-term output targets. If Taseko manages the wellfield ramp-up effectively, Florence could become a more meaningful part of the North American copper supply story.

Taseko copper guidance cut again as Gibraltar underperforms

Taseko

Taseko copper guidance cut for 2025 highlights the strain at its Gibraltar mine in British Columbia. Taseko copper guidance cut by 11pc shows how earlier operational shortfalls still weigh on full-year output expectations. As a result, Taseko copper guidance cut underscores the growing importance of new production from Florence Copper in Arizona.

Gibraltar struggles to regain copper momentum

Taseko now expects 2025 copper production of 100mn–105mn lbs, including cathode output. This latest Taseko copper guidance cut follows weaker-than-planned performance earlier in the year. The company admits it cannot fully recover the production shortfall created by low recoveries in the first quarter.

However, third-quarter copper production edged up by 2pc to 27.6mn lbs, including 900,000lbs of cathode. Second-quarter output slipped to 19.8mn lbs, down from 20.2mn lbs a year earlier. The company sold 26.3mn lbs of copper in the third quarter, flat year on year, indicating that sales have not yet reflected meaningful growth.

Meanwhile, by-product performance improved, with molybdenum production up 33pc on the year to 560,000lbs. This helps unit costs but cannot fully offset the impact of lower-than-guided copper volumes. Taseko still expects a “significant” fourth-quarter copper production increase, but the lowered guidance shows that recovery will be partial at best.

Florence Copper steps up as future growth driver

The guidance reset increases pressure on the Florence Copper project to deliver new volumes. Taseko has started wellfield operations at Florence after receiving final regulatory approvals, marking a key de-risking milestone. The company expects first copper cathode from Florence in about three months, adding a second production base.

As a result, Florence Copper could gradually rebalance the group’s portfolio away from relying solely on Gibraltar. In-situ leach cathode production should also help diversify cost structures and reduce exposure to Gibraltar’s recovery volatility. Over time, the combination of Gibraltar concentrate and Florence cathode can strengthen Taseko’s position in the North American copper market.

The Metalnomist Commentary

Taseko’s trimmed outlook shows how fragile single-asset copper stories can be when recoveries slip. The speed and reliability of the Florence Copper ramp-up will likely define investor confidence far more than short-term Gibraltar variability. If Florence delivers on schedule, the current guidance cut may be remembered as a temporary stumble rather than a structural setback.

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.

Taseko Projects Strong Copper Output Ramp-Up at Florence Mine by 2027

Taseko Mines

Arizona Site Targets 40–50mn lbs in 2026 Before Full Capacity in 2027–28

Gibraltar Production Set to Normalize as Florence Project Joins Portfolio

Taseko Mines, a Canadian mining company, expects to produce 40–50 million pounds of copper at its Florence project in Arizona during 2026, as the site ramps up toward full-scale operations. Output is scheduled to begin by the fourth quarter of 2025, with 2026 marked as the primary ramp-up year for the in-situ copper mine.

Florence Mine Nears Nameplate Capacity, Bolstering Taseko’s Copper Portfolio

Taseko projects copper production at Florence will reach up to 80 million pounds or higher in 2027, nearly hitting the site’s design capacity of 85 million pounds per year. The Florence mine, which utilizes in-situ solvent extraction technology, will become the company’s second major operation alongside its Gibraltar mine in British Columbia.

Gibraltar Mine Production to Stabilize as Taseko Eyes Recovery

The company also expects Gibraltar copper output to normalize in 2025, forecasting production in the range of 120–130 million pounds. This two-pronged production strategy will reinforce Taseko’s standing as a significant North American copper producer, supporting supply amid a tightening global market.

Despite these growth prospects, Taseko reported a C$13.4 million ($9.4 million) net loss for the year, reversing a C$82.7 million profit in 2023. Nonetheless, revenues climbed 16% to C$608 million, underscoring the company’s potential for rebound as Florence ramps up.

Taseko Mines Raises 2025 Copper Production Outlook for Gibraltar Mine

Taseko Mines

Taseko Mines, a Canadian mining company, has announced an increased copper production outlook for 2025 at its Gibraltar operations in British Columbia. The revised forecast is driven by higher ore throughput rates and anticipated improvements in mill availability.

Increased Production Projections

Copper output for 2025 is projected to range from 120 million to 130 million pounds, a significant increase from the 106 million pounds produced in 2024. The company noted that production in 2025 will be concentrated in the second half of the year, with lower-grade stockpiles supplementing mined ore during the first six months. This strategic use of stockpiles allows Taseko to optimize its production schedule and potentially capitalize on favorable market conditions later in the year.

Operational Improvements and Throughput Rates

Taseko anticipates maintaining elevated ore throughput rates in 2025, building on the strong performance in the fourth quarter of 2024, when the mine processed an average of 89,000 metric tonnes per day, nearly 5% above nameplate capacity. The company also expects improved mill performance at the Gibraltar site following operational challenges in 2024, including a three-week shutdown of one concentrator due to planned and unplanned maintenance. These operational enhancements are expected to contribute to the increased copper output in 2025.

2024 Performance and Sales Volumes

Taseko met its revised 2024 copper production target of 105 million to 110 million pounds, although this was lower than the initial projection of 115 million pounds due to a work stoppage in June and subsequent mill operation disruptions.  Fourth-quarter output of 29 million pounds was down 15% year-on-year, but it represented a second consecutive quarterly increase after production fell to 20 million pounds in the second quarter due to the strike.  Molybdenum production in 2024 increased by 17% to 1.4 million pounds, with fourth-quarter output surging by 48% year-on-year to 547,000 pounds, thanks to higher molybdenum-bearing ore from the company's new Connector pit.  Taseko's 2024 copper sales volumes decreased by 11% to 108 million pounds, while molybdenum sales volumes increased by 18% to 1.4 million pounds.

Taseko Mines Projects Higher Copper Output in Second Half of 2024 Amid Recovery Efforts

Taseko Mines is gearing up for a significant boost in copper production in the second half of 2024, aiming to increase output by 20-30% compared to the first half of the year. This surge is crucial for the Canada-based company as it seeks to meet its revised annual production guidance after a two-week strike at its Gibraltar mine in British Columbia in June.

The strike, which caused a temporary halt in operations and delayed essential maintenance on one of the mine's two mill concentrators, led Taseko to lower its full-year production forecast by 5 million pounds in July. The company produced only 49.9 million pounds of copper in the first six months of 2024, necessitating a higher output of 60-65 million pounds in the latter half of the year to meet its new target.

To achieve this, Taseko plans to exceed the Gibraltar mine’s nameplate capacity of 85,000 metric tonnes per day over the next two quarters. The company is also exploring options to slightly increase mining rates in the short term.

Despite the production setbacks, Taseko benefited from higher copper and molybdenum prices in the second quarter, which bolstered its revenues by 23% year-on-year to C$138 million ($99 million). Average realized copper prices climbed to $4.49 per pound, up from $3.78 per pound in the same period last year, while molybdenum prices also saw a modest increase.

However, the company reported a quarterly loss of nearly C$11 million, a sharp reversal from the C$10 million profit recorded in the same period last year. Taseko attributed the loss to one-time expenses, emphasizing that these costs do not reflect its core operational performance.

Looking ahead, Taseko remains optimistic about copper's long-term prospects. The company anticipates a recovery in copper prices, driven by global electrification and infrastructure initiatives, despite the recent 17% decline in three-month copper prices on the London Metal Exchange since their peak in May.

Florence Copper first cathode by year-end as Taseko nears production

Copper Cathode Florence

Taseko targets Florence Copper first cathode by the end of 2025. The company says construction is over 90pc complete. It expects commercial operations in just a few months. Higher prices strengthen the economics of Florence Copper first cathode production. Investors now track Florence Copper first cathode milestones closely.

Project timeline and economics

Taseko expects the plant to produce 85mn lbs/yr of copper cathode at capacity. The Arizona site advances toward mechanical completion and commissioning. As a result, management argues near-term cash flows look robust. The guidance aligns with its build schedule and procurement cadence.

Market context and tariff tailwinds

Copper rallied to a record $5.72/lb on the CME this week. Meanwhile, planned US tariffs of 50pc on copper imports start 1 August. Taseko believes those tariffs will “further boost” project value. Therefore, domestic cathode should capture stronger realized pricing.

The Metalnomist Commentary

Domestic cathode adds resilience to US supply at a pivotal moment. If execution holds, Florence could monetize today’s price strength. Watch tariff policy and commissioning performance for the next leg of value creation.

Taseko Mines Revises Annual Copper Output Forecast Amid Strike

Taseko Mines, a Canadian mining company, has revised its annual copper production forecast following a strike at its Gibraltar mine in British Columbia. The two-week strike in June halted operations, impacting copper output. The company now expects to produce between 110 million and 115 million pounds of copper in 2024, down from its initial projection of 115 million pounds.

Production at the Gibraltar mine dropped 29% year-over-year to 20 million pounds for the April-June quarter. The strike delayed the installation of a relocated in-pit crusher and planned maintenance on a mill concentrator. "We are evaluating updated mine plans and throughput opportunities to recover lost production," said CEO Stuart McDonald.

Molybdenum production, a by-product of the copper operations, also fell by 20% to 185,000 pounds compared to the same period last year.