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Taseko Mines: Florence Copper Aquifer Protection Permit not Appealed by Town Council
Taseko Mines: Florence Copper Aquifer Protection Permit not Appealed by Town Council ...
About this update from Taseko Mines Limited
[{"type":"text","content":"\n \n \n \n Taseko Mines: Florence Copper Aquifer Protection Permit not Appealed by Town Council\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n VANCOUVER, BC\n \n ,\n \n Jan. 5, 2021\n \n /CNW/ - Taseko Mines Limited (TSX: TKO) (NYSE American: TGB) (LSE: TKO) (\"Taseko\" or the \"Company\") is pleased to announce that the Florence Town Council has decided it will not appeal the Aquifer Protection Permit (\"APP\") which was recently granted by the Arizona Department of Environmental Quality (\"ADEQ\").\n \n \n \n Stuart McDonald\n \n , President of Taseko, commented, \"We are very pleased by this decision and believe this change in approach by Council signals a new beginning. Our expectation is that open and productive dialogue will result and that our future together is bright.\"\n \n \n \"We believe that two years of operating the test facility within the strict environmental guidelines set out in our current permits, combined with the future economic benefits from the commercial production facility, certainly contributed to Council's decision. Transitioning\n \n Florence Copper\n \n to commercial production, which includes expanding the current wellfield and SX/EW plant, will mean an average of 85 million pounds of copper per year for 20 years beginning in late 2022,\" concluded Mr. McDonald.\n \n \n \n Project Highlights\n \n \n \n \n Pre-tax net present value of\n \n US$920 million\n \n at a 7.5% discount rate\n \n \n After-tax net present value of\n \n US$680 million\n \n at a 7.5% discount rate\n \n \n IRR of 40% and a 2.3 year payback\n \n \n 20 year mine life with average C1 cash costs of\n \n US$1.13\n \n per pound\n \n \n At\n \n US$5,600\n \n per ton of installed capacity,\n \n Florence Copper\n \n is one of the lowest capital intensity copper projects in the world\n \n \n Reserves of 345 million tons grading 0.36% copper containing 2.5 billion pounds of copper\n \n \n \n The Florence Copper NI 43-101 technical report is available on\n \n www.sedar.com\n \n or the Company's website at\n \n www.tasekomines.com\n \n ...