After a months-long communications blackout, talks have begun between Taseko Mines (TSX:TKO), the Tsilhqot’in National Government (TNG) and the province regarding the $1.1 billion New Prosperity copper-gold project near Williams Lake.
Taseko spokesman Brian Battison confirmed to Business in Vancouver that his company is in “discussions” with the TNG and provincial government to resolve court injunctions that have halted the company’s exploration work at New Prosperity.
Battison wouldn’t say what exactly was being discussed or whether any offers were on the table to help the project proceed, but the discussions mark the first time in months that Taseko and the TNG have talked about the project.
Ottawa rejected the proposed mine in November 2010, citing environmental concerns and the destruction of a lake.
Vancouver-based Taseko has since re-tooled the project – adding some $300 million in costs – to protect the lake, and re-entered the federal environmental assessment process.
In November 2011, the Canadian Environmental Assessment Agency determined the project would be subject to a review, which consists of government-appointed panel members who will listen to testimony from the company, First Nations and community stakeholders.
That panel has yet to be appointed, but Ottawa has said the review should take no more than 12 months to complete.
The panel’s findings will then be handed to Environment Minister Peter Kent who will make a final decision regarding the project.
In December, a BC Supreme Court judge granted the TNG an injunction halting Taseko’s exploration activities at the New Prosperity site.
Battison said, so far, that injunction has not affected the timing of the environmental review.
TNG leaders remain adamantly opposed to the project, although in December Ervin Charleyboy, a former TNG tribal chairman, came forward in support of the project. (See “First Nations leader supports New Prosperity” – issue 1153; November 29-December 5, 2011.)
Taseko said last year the project would have a significant impact on B.C.’s economy, generating some 71,000 jobs over a 20-year mine life and feeding $5.52 billion into provincial coffers.
At press time, Taseko’s shares were valued at $4.26.
