Can a win by Taseko become a net loss for mining in British Columbia?

The National Post looks at the proposed mine at Fish Lake. Taseko Mines (TSE:TKO) is having another go at regulatory approval, but First Nation groups that oppose the mine are suggesting that if Fish Lake goes ahead, they may sour on all the province’s plans for mining development across B.C.:

At a news conference in Ottawa yesterday, the fate of more than Taseko’s project was put into play. Reuters reports that Stewart Phillip, president of the Union of British Columbia Indian Chiefs, said that if Ottawa and the province were to approve the Prosperity mine, the governments would be sacrificing mine development across the province.

Last month, Premier Christie Clark said her government plans to capitalize on high demand for minerals, especially in Asia, by opening up eight new mines in the next four years and expanding nine more by 2015.

Taseko announced in February it is taking another run at Prosperity after the federal government rejected it last fall. Under the revisions, the company plans to spend another $300 million, pushing the project’s capex to $1.1 billion.