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 Posté le: Lun Sep 30, 2013 10:16 pm Sujet du message: Contentious New Prosperity gets second shot at rev |
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{Contentious New Prosperity gets second shot at review panel}
Taseko VP Brian Battison: “the long-term price of copper … allowed us to take a second look”By Sean KolenkoMon Jul 22, 2013 9:30am PSTTaseko Mines Ltd.’s (TSX:TKO) controversial New Prosperity project, considered Canada’s largest undeveloped copper gold deposit,[url=http://www.moncler-sale.org]moncler sale[/url], will again be judged by a federal review panel starting this week.It’s the second time New Prosperity – an ore body located about 125 kilometres southwest of Williams Lake believed to contain 5.3 billion pounds of copper and more than 13 million ounces of gold – has faced such scrutiny.In 2010, both federal and provincial regulators assessed the project, then called Prosperity, for a host of environmental concerns, including its affect on water quality,[url=http://www.moncler-sale.org]moncler down jackets[/url], human health and local wildlife populations. The proposed mine passed each of these hurdles. The federal government,[url=http://www.moncler-sale.org]moncler on sale[/url], however, ultimately rejected Prosperity because Taseko planned to drain nearby Fish Lake to build a tailing pond and a pit to store waste rock from the mine. The potential environmental damage resulting from draining the lake proved too much for Ottawa.On the other hand, the provincial assessment, while acknowledging the elimination of Fish Lake as a negative environmental consequence, approved the project because of the mine’s projected revenue.According to Taseko’s calculations, New Prosperity would generate more than $9.5 billion in tax revenue: $5.52 billion for the province and $4.3 billion for federal coffers.To appease the July 22 review panel,[url=http://www.moncler-sale.org]moncler sale[/url], Taseko’s new plan moves the mine’s tailing pond and waste rock storage area two kilometres upstream. The company claims the changes will cost it an additional $300 million, but will save Fish Lake.“The long-term price of copper is much stronger today, and that has allowed us to take a second look,[url=http://www.moncler-sale.org]moncler outlet[/url],” said Brian Battison,[url=http://www.moncler-sale.org]moncler down jackets[/url], Taseko’s vice-president of corporate affairs.In 2010, the Tsilqot’in National Government, a First Nations council representing five area aboriginal communities, aggressively lobbied the federal government to reject the project.Central to their argument is the belief that New Prosperity would be on Tsilqot’in traditional land. The claim area is a more than 4,000-square-kilometre plot west of Williams Lake.The Tsilqot’in argued the construction of the mine and all of the associated environmental consequences would encroach on their aboriginal rights and title.But Taseko claimed the proposed mine was on Crown land and the Tsilqot’in had no jurisdiction.In 2007, the Tsilqot’in took the land dispute to the BC Supreme Court. In a landmark decision,[url=http://www.moncler-sale.org]moncler outlet[/url], the court found that the Tsilqot’in had rights to hunt in the claim area but did not grant the band title. Appeals. The BC Court of Appeal upheld the original decision, which has since been appealed to the Supreme Court of Canada.After the court’s judgment, Taseko applied for its first, ultimately rejected, mine lease.The relationship between the Tsilqot’in and Taseko deteriorated during the process,[url=http://www.moncler-sale.org]discount moncler jackets[/url], and the two parties remain at odds over New Prosperity. Joe Alphonse, chief of the Tsilqot’in National Government,[url=http://www.moncler-sale.org]moncler on sale[/url],[url=http://www.moncler-sale.org]discount moncler jackets[/url], told Business in Vancouver that Taseko’s attempt to launch the project a second time is an affront to his community’s concerns.Alphonse said Taseko can’t build the mine without killing Fish Lake, and he is preparing for the upcoming battle in the Supreme Court of Canada.Economic benefits of the New Prosperity mineNew Prosperity is expected to generate $11 billion in real GDP and 57,000 person years of employment. If approved, the mine is anticipated to have a 20-year lifespan.Taseko plans to spend $1 billion to build New Prosperity. The company forecasts a two-year construction period.New Prosperity will add between $300 million and $400 million to B.C. Mineral Tax Revenues.Taseko has invested $120 million in the New Prosperity mine for engineering work.Tags: environment, Brian Battison, Taseko Mines Ltd., Joe Alphonse, First Nations, aboriginal
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