Taseko Mines obtains financing for Florence Copper operation

Taseko Mines has said it has obtained an underwritten commitment for US$25 million from Banc of America Leasing & Capital, LLC, which will fund work on Taseko’s Solvent Extraction and Electrowinning plant for the Florence Copper commercial production facility.

Taseko’s wholly-owned Florence Copper, an in-situ copper recovery project, is located midway between Phoenix and Tucson near the community of Florence, Arizona.

“Following the recently announced strategic partnership with Mitsui & Co. (U.S.A.) Inc. for our Florence Copper project, this additional source of funds will further strengthen our balance sheet and provide financing flexibility as we prepare for construction of the project in 2023. We have a long-standing relationship with Bank of America, a North American leader in equipment financing for mines and projects directly supporting low-carbon initiatives in the United States,” stated Stuart McDonald, President and CEO of Taseko.