VANCOUVER, June 20, 2013 /PRNewswire/ - Taseko Mines Limited (TSX: TKO; NYSE
MKT: TGB) ("Taseko" or the "Company") is pleased to announce that the
Federal Review Panel (the "Panel") which is conducting a review of the
environmental effects of the New Prosperity Gold-Copper Project is
advancing the project into Public Hearings, the final stage of the
public review process.
The purpose of the hearings, which begin July 22, 2013 and are not to
exceed 30 days in length, is to provide opportunity for the public to
participate in the environmental assessment process and offer their
views on the project and its relationship to the future of the Cariboo
region. The hearings will take place in Williams Lake and surrounding
communities.
New Prosperity is a $1 billion investment that will create thousands of
jobs and generate billions of dollars in tax revenues. It is an
environmentally responsible project, based on proven engineering,
managed by experienced people.
"Is it in the best interest of Canadians to use this piece of property
in the proposed manner? That's what the Government of Canada is trying
to decide. One of the tools they use to help them with that decision is
the environmental assessment process," says Russell Hallbauer,
President and CEO of Taseko. "The answer of course is yes, this project
is very much in the interest of Canadians, especially British
Columbians and the approximately 65,000 residents living in the Cariboo
region. It was for these reasons the project was first approved by the
provincial government in January 2010."
"Not only is New Prosperity important to the future interests of
communities like Williams Lake, Quesnel and 100 Mile House, but it is
vital for First Nations communities who seek new opportunities for
employment and business development closer to home so that people don't
have to move away to search for those opportunities elsewhere," added
Mr. Hallbauer.
Once the public hearings conclude, the Panel will have a maximum of 70
days to write and submit a report to the federal Minister of
Environment. The Government of Canada will then have a maximum of 120
days to decide if it should grant the necessary authorizations for the
project to proceed.
For more information on the New Prosperity Project and for updates on
the Panel Hearing, visit www.newprosperityproject.ca, an in-depth online information portal.
Russell Hallbauer
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
milling;
-
uncertainties related to feasibility studies that provide estimates of
expected or anticipated costs, expenditures and economic returns from a
mining project;
-
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
opposition;
-
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
financing;
-
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
and estimates;
-
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.com and home jurisdiction filings that are available at www.sedar.com.
SOURCE Taseko Mines Limited