Statement by Russell Hallbauer, President & CEO, Taseko Mines
VANCOUVER, July 22, 2013 /CNW/ - Taseko Mines Limited (TSX: TKO; NYSE
We are pleased the 30-day public hearing phase of the environmental
assessment of the New Prosperity Project begins today. The opportunity
for the public to offer their views on this project and its
relationship to their community is an important part of the process.
As a Company we have done what we were asked to do. We have brought
forward a new design that includes an additional $300 million
commitment to environmental responsibility, saves Fish Lake and
preserves it for future generations.
The federal government is trying to answer one fundamental question: Is
it in the best interests of Canada, and in the interests of the central
interior communities of British Columbia, to use this small piece of
property near and around Fish Lake?
The answer is yes, overwhelmingly so.
New Prosperity is aligned with the values, interests and expectations of
Canadians, specifically Canadians who call the Cariboo home. It will
provide training and employment opportunities for First Nations and
enable members, particularly youth, to train and work where they live
and remain in their communities.
New Prosperity is a rare opportunity. The public value and benefit
generated by the construction and operation of New Prosperity can be
measured in thousands of jobs and in billions of dollars in new tax
revenues for government.
This $1 billion project, along with the substantial public benefit that
will flow from its development can be accomplished without significant
risk to the environment and with the very highest standards of mine
development in the world for which British Columbians, including those
working for our company, are recognized.
Our workforce, some 700 strong living in the region and committed to the
Cariboo, is a capable group of experienced people with a proven track
record of performance.
The mine plan is not experimental but rather founded on proven
engineering and science, utilizing operating procedures and equipment
that are currently in use every day at mines in Canada, elsewhere in
the world and right here in BC at our Gibraltar Mine, also near
With the public hearings underway, the people of the Cariboo get to
express their views about this project and what role it might play in
contributing to the future of their communities.
Then it will be up to Ottawa and we will all wait to learn our fate and
whether or not the political leaders in this country have been stirred
to action by this region's determination to secure a future of new
prosperity for themselves and their families.
For a summary of the New Prosperity Environmental Impact Statement and
for regular updates throughout the panel process visit www.newprosperityproject.ca.
President and CEO
No regulatory authority has approved or disapproved of the information
contained in this news release.
CAUTION REGARDING FORWARD-LOOKING INFORMATION
This document contains "forward-looking statements" that were based on
Taseko's expectations, estimates and projections as of the dates as of
which those statements were made. Generally, these forward-looking
statements can be identified by the use of forward-looking terminology
such as "outlook", "anticipate", "project", "target", "believe",
"estimate", "expect", "intend", "should" and similar expressions.
Forward-looking statements are subject to known and unknown risks,
uncertainties and other factors that may cause the Company's actual
results, level of activity, performance or achievements to be
materially different from those expressed or implied by such
forward-looking statements. These included but are not limited to:
uncertainties and costs related to the Company's exploration and
development activities, such as those associated with continuity of
mineralization or determining whether mineral resources or reserves
exist on a property;
uncertainties related to the accuracy of our estimates of mineral
reserves, mineral resources, production rates and timing of production,
future production and future cash and total costs of production and
uncertainties related to feasibility studies that provide estimates of
expected or anticipated costs, expenditures and economic returns from a
uncertainties related to our ability to complete the mill upgrade on
time estimated and at the scheduled cost;
uncertainties related to the ability to obtain necessary licenses
permits for development projects and project delays due to third party
uncertainties related to unexpected judicial or regulatory proceedings;
changes in, and the effects of, the laws, regulations and government
policies affecting our exploration and development activities and
mining operations, particularly laws, regulations and policies;
changes in general economic conditions, the financial markets and in the
demand and market price for copper, gold and other minerals and
commodities, such as diesel fuel, steel, concrete, electricity and
other forms of energy, mining equipment, and fluctuations in exchange
rates, particularly with respect to the value of the U.S. dollar and
Canadian dollar, and the continued availability of capital and
the effects of forward selling instruments to protect against
fluctuations in copper prices and exchange rate movements and the risks
of counterparty defaults, and mark to market risk;
the risk of inadequate insurance or inability to obtain insurance to
cover mining risks;
the risk of loss of key employees; the risk of changes in accounting
policies and methods we use to report our financial condition,
including uncertainties associated with critical accounting assumptions
environmental issues and liabilities associated with mining including
processing and stock piling ore; and
labour strikes, work stoppages, or other interruptions to, or
difficulties in, the employment of labour in markets in which we
operate mines, or environmental hazards, industrial accidents or other
events or occurrences, including third party interference that
interrupt the production of minerals in our mines.
For further information on Taseko, investors should review the Company's
annual Form 40-F filing with the United States Securities and Exchange
Commission www.sec.gov and home jurisdiction filings that are available at www.sedar.com.
SOURCE: Taseko Mines Limited
For further information:
Media: Brian Battison, Vice President, Corporate Affairs - 778-373-4533 or toll free 1-877-441-4533