Magna Mining Approves Restart of Levack Nickel-Copper Mine, Targeting Mid-2028 Commercial Production

Florence Copper, a project owned by Taseko Mines, held a commercial launch ceremony in Arizona on October 6. The project produced its first copper cathodes in February 2026, meaning the ceremony marked the formal transition to commercial operations rather than the start of initial production. Florence Copper has been described as the first major new greenfield copper source in the United States since 2008. The project uses in-situ copper recovery (ISCR) combined with solvent extraction and electrowinning (SX/EW). It has a nameplate capacity of 38,600 tonnes of LME Grade A copper cathodes per year, based on the original 85 million-pound-per-year design capacity. The mine life is expected to be around 22 years, with estimated cumulative production of approximately 680,000 tonnes of copper. The project extracts copper through injection and recovery wells rather than conventional open-pit mining. The company said Florence Copper produced nearly 3,175 tonnes of copper between February and June 2026. The operation remains in the ramp-up phase and is expected to reach full production in 2027. All cathode copper produced at the project will remain in the United States to supply domestic manufacturers and other strategic industries. The project has created more than 200 direct jobs.

Peru’s Central Reserve Bank reported molybdenum export value of $187 million in August 2026, down 3.6% from the revised July figure but up 32.6% year on year. January–August export value reached $1.371 billion, up 23.6% year on year. The series measures FOB export value rather than physical volume or mine production.

Chile's copper commission Cochilco reports that accredited renewable electricity now accounts for 80.1% of total power used by the country's copper mining industry, underscoring how far the sector has moved toward a clean-energy matrix. Cochilco notes that electricity represents roughly 30% of national demand from copper operations and up to 30% of some mines' operating costs. As ore grades decline and desalination expands, power use per tonne of copper keeps climbing, making long-term renewable PPAs central to securing both low-carbon credentials and cost control. The data reinforces Chile's position as a supplier of traceable, low-emission copper as buyers and regulators increasingly price embedded carbon.