Taseko’s Florence mine delivers first new US copper in 17 years

Canada’s Taseko Mines (TSX: TKO) (NYSE: TGB) has harvested its first copper cathodes at the newly built Florence Copper operation in Arizona, marking the first new copper production from a greenfield project in the US since 2008.

The company said the cathodes were produced following the late-February start-up of Florence’s electrowinning plant, which began commercial operations and copper output. 

The milestone positions Taseko to become the third-largest copper cathode producer in the US once the operation reaches its nameplate capacity of 85 million pounds of LME Grade A copper per year.

Florence Copper is expected to produce at least 1.5 billion pounds of copper over a 22-year mine life. Taseko said all metal produced at the site will remain in the US, supporting domestic manufacturing and reducing reliance on imports.

President and CEO Stuart McDonald called the first harvest a landmark for both the Florence team and the company’s broader growth strategy in North America. “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,” McDonald said.

Step forward

US copper production has remained largely flat in recent years, even as demand accelerates. Benchmark Mineral Intelligence recently found the US can meet 146% of its domestic copper demand through a combination of mine output and scrap, compared with just 40% for China, the world’s largest consumer. Yet nearly 48% of US mined copper concentrate is exported, largely because of limited domestic smelting and refining capacity.

Taseko said Florence represents a step forward for the country’s critical minerals strategy as it is also the first greenfield site globally to use in-situ copper recovery, or ISCR. This is a lower-cost method that the company says offers environmental advantages over conventional mining. 

The company said the project advances its goal of becoming a leading North America-focused copper producer.