Taseko Mines Ltd. announced Monday afternoon that it has resubmitted an environmental application for its proposed gold-copper Prosperity Mine project to the federal government.
The revised plan addresses the concerns identified during the federal review process, when the federal cabinet rejected the Chilcotin mine project Nov. 2, 2010.
Cariboo-Chilcotin MLA Donna Barnett says it's good news. "Hopefully everyone can come to the table and have some good, concrete and positive discussion. We need to be sure we take into consideration all the issues that are out there, including First Nations and environmental issues, as was done in the previous proposal but it didn't satisfy the federal ministers.
"So, hopefully, the new plan will address all of these issues."
Noting it will probably be a year or two before the application process is completed, Barnett says she believes the federal review will only look at the new information, and that's the impression she got after talking with Kamloops-Thompson-Cariboo MP Cathy McLeod on Tuesday morning.
The proposal greatly reduces environmental impacts, preserves Fish Lake and its aquatics, and enables all mine operations and related components to be contained within one single watershed, which was a beneficial feature of the original design, Taseko chief executive officer Russell Hallbauer noted in a statement Feb. 21.
He added Taseko has been assured by Ottawa that it wishes to see resource projects developed and that it is not opposed to the mining of the Prosperity ore body, but only the way in which it was originally proposed.
Noting that in 2009 when the company initiated economic and environmental studies on the Prosperity proposal, copper was $1.50 a pound and gold was fetching $550 an ounce, Hallbauer said those prices have nearly doubled in today's market.
"It is for this reason we are now able to consider and advance this new design proposal, which adds construction costs and life-of-mine operating expenditures of approximately $300 million."
Taseko's original plans were to drain Fish Lake (Teztan Biny) and replace it with a manmade, stocked fishing lake. The Tsilhqot'in National Government and its member aboriginal bands adamantly opposed this, and many felt this issue was the cornerstone to the federal cabinet's rejection of the proposal.
"Our initiative to preserve Fish Lake and accommodate the concerns of the federal government and First Nations communities is a major commitment and undertaking by Taseko," said Hallbauer.
"We look forward to working with all levels of government, First Nations communities, the City of Williams Lake and with the Cariboo Regional District on moving this project forward in the coming months."
Noting the project redesign retains much of the original plan, Hallbauer said Taseko is confident government agencies and departments will be able to rely on significant portions of the already completed environmental assessments to be informed of the new assessment.
He added the company anticipates the scope of that assessment will be focused on only what has changed.
Noting it will probably be a year or two before the application process is completed, Barnett says she believes the federal review will only look at the new information.
She adds that's the impression she got after talking with Kamloops-Thompson-Cariboo MP Cathy McLeod on Tuesday morning.
