Florence Copper Finds Financial Support
The capital requirements for the commercial production facility are estimated at $230 million and, while Taseko continues discussions with potential joint venture partners, the company believes it can obtain the additional funding, especially with copper prices currently north of $3.70/lb.
“A commitment to capital discipline is a guiding principle for this organization,” CEO Russell Hallbauer said. “We have demonstrated this in the past by completing more than $800 million of capital programs at Gibraltar, on time and on budget. Florence is no different. [It] is one of the least capital-intensive copper production facilities in the world and when fully ramped up will produce 40,000 [metric tons] of high-quality cathode copper annually.”