Florence Town Council drops appeal against Taseko Mines project
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(Kitco News) - Taseko Mines Limited (TKO:LSE) announce that the Florence Town Council has decided it will not appeal the Aquifer Protection Permit which was recently granted by the Arizona Department of Environmental Quality.
Stuart McDonald, 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.".
He added "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 Florence Copper 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,".
The mine is said to have a 20 year life with average C1 cash costs of US$1.13 per pound. The report states that at US$5,600 per ton of installed capacity, Florence Copper is one of the lowest capital intensity copper projects in the world.
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