Taseko announces new legal win for Florence Copper in Arizona
(Kitco News) - Taseko Mines (TSX: TKO; NYSE American: TGB; LSE: TKO) announced today that a decision released today by the Arizona Court of Appeals has confirmed all aspects of the Superior Court of Arizona's (lower court) 2019 decision in favor of Florence Copper.
The company said that this decision rejected every argument made by the Town of Florence's lawyers in their appeal of the lower court's ruling, upheld Florence Copper's right to mine its private property within the Town and confirmed the awarding of $1.7 million in legal fees and costs to Florence Copper.
"We are certainly happy with the appellate court decision which draws to a close all outstanding litigation brought by the Town," said Stuart McDonald, President of Taseko. "While it is the outcome we expected, the closure this decision brings is important for not only for the company, but for all those who benefit from the social and economic contribution we are making to the region."
Headquartered in Vancouver, Taseko operates the state-of-the-art Gibraltar mine, the second largest copper mine in Canada, with a nearly 700 person workforce producing an average of 140 million pounds of copper and 2.5 million pounds of molybdenum per year.
Taseko's wholly-owned Florence Copper, Yellowhead, and Aley projects are all advanced staged projects that provide the company with a diverse commodity pipeline.