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Argentina

Taca Taca Project

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Summary

Mine TypeOpen Pit
Study CompletedPreliminary Economic Assessment
StagePermitting
Commodities
  • Copper
  • Gold
  • Molybdenum
Mining Method
  • Truck & Shovel / Loader
Mine Life... Lock
SnapshotTaca Taca is a large, high-quality porphyry copper-gold-molybdenum deposit and First Quantum’s most advanced greenfield project. It is located in a seismically active region.

In December 2025, the Company completed a Technical Report for the proposed Taca Taca Project. The report outlines a two-stage development plan.

Stage 1 is a 40 Mtpa operation with detailed engineering and cost estimates, designed to mine and process copper- and molybdenum-bearing ore, with gold recovered in the copper concentrate.

Stage 2 is presented as a potential expansion to increase throughput, expected to start about five years after pre-strip and to reduce overall mine life. Planning, engineering, and cost estimates for Stage 2 are less advanced than for Stage 1.

The key permitting milestone is Environmental and Social Impact Assessment (ESIA) approval. The Company is working with the Province on the Environmental and Social Impact Assessment and water permits, following public consultation.
Latest NewsFirst Quantum Files NI 43-101 Technical Report for Taca Taca     February 19, 2026

Owners

SourceSource
CompanyInterestOwnership
First Quantum Minerals Ltd. 100 % Indirect
Taca Taca Project is 100% owned by the First Quantum Minerals Ltd. through its Argentinian subsidiary Corriente Argentina S.A.

Contractors

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Deposit type

  • Porphyry

Summary:

Taca Taca is a porphyry copper-molybdenum-gold deposit hosted by granitic rocks together with dacite, dolerite, and rhyolite intrusions. The porphyry is characterised by hydrothermal alteration that grades from a central potassic core to an outer phyllic and argillic zone. Phyllic alteration is most common and is closely associated with mineralisation.

The style of mineralisation is mainly supergene (chalcocite) and hypogene (chalcopyrite), overlain by a zone of variable thickness of leached copper. Mineralisation is disseminated and in fractures, veinlets, and quartz vein stockworks. Copper sulphides are mostly chalcopyrite and chalcocite with lesser bornite, covellite, and digenite and is broadly zoned with a chalcopyrite-bornite-molybdenite core yielding to a more pyritic halo around the edges.

The leached horizon is depleted of copper mineralisation with a zone of gold mineralisation located within the thicker portion of leached material. Supergene zones are enriched with secondary sulphides and form a discontinuous blanket underneath the leached cap. Supergene mineralisation is variably mixed with hypogene mineralisation according to structure, varying lithology and alteration.

Mineralisation remains open at depth and to the south and east of the deposit.

Rock types
The Taca Taca deposit’s mineralisation is hosted within the Ordovician granite batholith and comagmatic aplite and dolerite intrusives. A smaller, less explored deposit (Taca Taca Alto) is known to exist approximately 4 km to the west and lies outside the Company’s concession holdings.

Mineralisation
Most of the mineralisation is hosted by phyllic-altered Ordovician granite and associated aplite and minor dolerite dykes. Dolerite dykes tend to have relatively higher copper grades due to the abundance of ferrous iron in mafic minerals, which promotes copper precipitation from hydrothermal fluids. Mineralisation is subdivided into an upper leached zone and underlying mixed supergene and hypogene zones.

Mineral deposit type
The Taca Taca deposit is a porphyry copper–gold–molybdenum system hosted principally within granitic plutonic rocks, with subordinate dacite, dolerite and rhyolite intrusions. Hydrothermal alteration forms kilometre-scale zones that grade outward from a central potassic core through phyllic and argillic assemblages. The propylitic zone is comparatively restricted for a deposit of this size. Phyllic alteration is the most pervasive and hosts most of the mineralisation. Late-stage argillic supergene processes have locally upgraded copper tenor.

Mineralisation comprises an upper leached horizon overlying a mixed supergene–hypogene zone. Copper occurs disseminated and within fractures, veinlets and quartz stockworks. Sulphide zonation consists of a chalcopyrite–bornite–molybdenite core yielding outward to a strong pyrite-rich halo. The overall sulphide assemblage is mixed and more variable than typically observed in porphyry systems.

Surface weathering and oxidation removed copper from oxide and hypogene copper minerals, producing a 150–300 m thick copper-depleted leached cap. The leached copper was remobilised and partially reprecipitated as secondary sulphides beneath the leached horizon, forming discontinuous supergene enriched zones dominated by fine-grained black chalcocite with lesser covellite. The boundary between hypogenedominant and supergene-dominant mineralisation is highly irregular and reflects alteration to depth along structures and within the host rocks. Copper grades within the supergene zones are typically higher than in the hypogene mineralisation.

Reserves

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Mining Methods

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Required Heavy Mobile Equipment

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EV - Electric

Comminution

Crushers and Mills

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Processing

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Water usage

Parameter2025
Fresh water 1,975 m3/h
Brackish water 598.6 m3/h

Commodity Production

CommodityProductUnitsAvg. AnnualLOM
Copper Payable metal M lbs 15,454 *
Copper Metal in copper conc. M lbs 461 *16,116 *
Copper Concentrate kt 822 *28,761 *
Gold Payable metal koz 2,975 *
Gold Metal in copper conc. koz 3.1 *3,370 *
Molybdenum Payable metal M lbs 205 *
Molybdenum Metal in concentrate M lbs 6.6 *239 *
Molybdenum Concentrate kt 233 *
* According to 2025 study.

Operational metrics

Metrics
Annual processing capacity  ....  Subscribe
Stripping ratio  ....  Subscribe
Waste tonnes, LOM  ....  Subscribe
Ore tonnes mined, LOM  ....  Subscribe
Total tonnes mined, LOM  ....  Subscribe
Tonnes processed, LOM  ....  Subscribe
* According to 2025 study.

Production Costs

CommodityUnitsAverage
All-in sustaining costs (AISC) Copper USD  ....  Subscribe
C1 cash costs Copper USD  ....  Subscribe
Assumed price Molybdenum USD  ....  Subscribe
Assumed price Copper USD  ....  Subscribe
Assumed price Gold USD  ....  Subscribe
* According to 2025 study / presentation.
** Net of By-Product.

Operating Costs

CurrencyAverage
OP mining costs ($/t mined) USD  ....  Subscribe
Processing costs ($/t milled) USD  ....  Subscribe
G&A ($/t milled) USD  ....  Subscribe
* According to 2025 study.

Project Costs

MetricsUnitsLOM Total
Initial CapEx $M USD  ......  Subscribe
Expansion CapEx $M USD  ......  Subscribe
Sustaining CapEx $M USD  ......  Subscribe
Total CapEx $M USD  ......  Subscribe
OP OpEx $M USD  ......  Subscribe
Processing OpEx $M USD 13,458
Refining and transportation $M USD  ......  Subscribe
G&A costs $M USD 2,778
Total OpEx $M USD  ......  Subscribe
Total Taxes $M USD  ......  Subscribe
Royalty payments $M USD  ......  Subscribe
Gross revenue (LOM) $M USD  ......  Subscribe
Pre-tax Cash Flow (LOM) $M USD  ......  Subscribe
After-tax Cash Flow (LOM) $M USD  ......  Subscribe
Pre-tax NPV @ 10% $M USD  ......  Subscribe
Pre-tax NPV @ 8% $M USD  ......  Subscribe
After-tax NPV @ 10% $M USD  ......  Subscribe
After-tax NPV @ 8% $M USD  ......  Subscribe
Pre-tax IRR, %  ......  Subscribe
After-tax IRR, %  ......  Subscribe
After-tax payback period, years  ......  Subscribe

Personnel

Mine Management

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Mar 4, 2026
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....................... Subscription required ....................... Subscription required Subscription required Dec 31, 2025
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....................... Subscription required ....................... Subscription required Subscription required Mar 4, 2026

Workforce

EmployeesYear
...... Subscription required 2025

Aerial view:

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