UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of December, 2020
Commission File Number: 001-31965
Taseko Mines Limited
(Translation of registrant's name into English)
15th Floor - 1040 West Georgia St., Vancouver, BC, V6E 4H1
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.
[ ] Form 20-F [ x ] Form 40-F
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): [ ]
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): [ ]
SUBMITTED HEREWITH
Exhibits
99.1 | December 8, 2020 - News Release - Florence Copper Receives Aquifer Protection Permit | |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Taseko Mines Limited | ||
(Registrant) | ||
Date: December 17, 2020 | By: | /s/ Russell Hallbauer |
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Russell Hallbauer | ||
Title: | CEO |
TASEKO MINES: FLORENCE COPPER RECEIVES AQUIFER PROTECTION PERMIT
December 8, 2020, Vancouver, BC - Taseko Mines Limited (TSX: TKO; NYSE American: TGB; LSE: TKO) ("Taseko" or the "Company") is pleased to announce that the Arizona Department of Environmental Quality ("ADEQ") has granted its Florence Copper Project the Aquifer Protection Permit ("APP").
Russell Hallbauer, Chief Executive Officer and Director of Taseko, commented, "This is a key milestone in the advancement of the Company's next operating asset. By issuing this permit, the ADEQ has endorsed the environmental integrity of our project and is confident that the commercial operation will meet all state environmental laws and regulations. The US Environmental Protection Agency ("EPA") continues to advance their permitting process and our expectation is that the Underground Injection Control Permit will be issued in early 2021. With construction anticipated to commence in 2021, the timing could not be better with copper being highlighted as the metal of the future as the world aggressively transitions to a green economy."
Stuart McDonald, President of Taseko, continued, "When in production, Florence Copper will produce 85 million pounds of copper annually at US$1.13 per pound C1 cash costs over its 20-year mine life. Based on our latest Technical Report, and supported by nearly two years of successful operation of the test facility, the project has an after-tax NPV (8%) of US$680 million at a copper price of US$3.00 per pound. At today's copper price, the NPV rises dramatically to US$920 million, which is roughly three times our current market capitalization. We have de-risked the project significantly since its acquisition in 2014 and believe we are on the cusp of having one of the best low-cost, fully-permitted and financed copper projects in the world."
"This state-of-the-art copper production facility will have an environmental footprint smaller than any conventional open-pit or underground mining operation of its size, with water consumption 14 times lower, carbon emissions six times lower and energy consumption three times lower. These attributes make Florence Copper an exceptionally green project which will supply the US domestic market and offset current copper imports," concluded Mr. Hallbauer.
The Florence Copper NI 43-101 technical report is available on www.sedar.com or the Company's website at www.tasekomines.com.
For further information on Taseko, please visit the Taseko website at www.tasekomines.com or contact:
Brian Bergot, Vice President, Investor Relations - 778-373-4533 or toll free 1-877-441-4533
Russell Hallbauer
Chief Executive Officer and Director
No regulatory authority has approved or disapproved of the information contained in this news release.
CAUTION REGARDING FORWARD-LOOKING INFORMATION
This document contains "forward-looking statements" that were based on Taseko's expectations, estimates and projections as of the dates as of which those statements were made. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "outlook", "anticipate", "project", "target", "believe", "estimate", "expect", "intend", "should" and similar expressions.
Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the Company's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. These included but are not limited to:
For further information on Taseko, investors should review the Company's annual Form 40-F filing with the United States Securities and Exchange Commission www.sec.gov and home jurisdiction filings that are available at www.sedar.com, including the "Risk Factors" included in our Annual Information Form.
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