06:12:05 EDT Fri 14 May 2021
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Taseko Mines Ltd
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Shares Issued 283,030,425
Close 2021-03-23 C$ 2.02
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Taseko notes court ruling in favour of Florence Copper

2021-03-23 19:58 ET - News Release

Mr. Russell Hallbauer reports


Taseko Mines Ltd. has noted 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 favour of Florence Copper, 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."

Today's decision marks the latest in a series of important milestones:

  • The legal challenges initiated by previous town councils have run their course with every decision in Florence Copper's favour.
  • One of the two key permits necessary for commercial operations has been granted by the Arizona Department of Environmental Quality, and the federal Environmental Protection Agency is taking the final steps required to issue the second key operating permit.
  • The success of the recent bond offering means capital requirements for commercial production are in hand.
  • Final design and engineering of the commercial in situ production facility as well as procurement of certain critical components are under way.

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