Following receipt of all necessary state and federal operating permits, Taseko Mines has commenced well field operations at its Florence in-situ recovery copper project in central Arizona, US.

The company said injection and recovery systems had been fully ramped and, following an initial leaching period, leach solutions were flowing at expected levels with copper detected in solutions recovered from process sample wells.

Russell Hallbauer, President and CEO of Taseko, said: “Our preliminary tracer tests of the well field in the third (September) quarter 2018 exhibited robust percolation rates through the orebody. These results were as good as, and in some cases better than, modelled in the 2017 technical study. The rate at which the dissolved copper is increasing in the leach solution further confirms historical test work and technical data.”

Hallbauer said the company always takes a disciplined and measured approach with its capital projects, performing the necessary work to ensure projects are technically sound, that the company understands its capital commitments and that the environment is protected. “While it has taken us some time to get to this point with Florence, the additional time taken will ensure that the project generates strong returns for our shareholders and protects the environment to the highest standards for the local community,” he said.

Florence is expected to produce copper at average operating costs of $1.10/Ib ($2,425/t) of copper, come with a capital cost intensity of $5,200/t of copper capacity and yield a pre-tax net present value of $920 million. It also has a slated copper production capacity of 85 MIb/y (38,555 t/y) and a 21-year mine life.