Column: Trump 2.0 won’t reverse Biden’s critical minerals push
Donald Trump has described the Inflation Reduction Act (IRA) as a "green scam" and vowed to repeal it after he returns to the White House in January.
British Columbia’s Taseko Mines (TSX:TKO) has revealed more information into its allegations that a federal panel reviewing its proposed $1.5 billion New Prosperity mine relied on the wrong information.
In letter to the Canadian Environmental Assessment Agency (CEAA) dated November 15, publicized by Taseko on Tuesday, the company calls the panel’s alleged error “so outrageous as to be nearly unfathomable” and says that it “provides no reasonable basis” upon which the Minister for the Environment could reject the project.
Last week the CEAA asked the company to back up its claims that the panel reviewing the mine proposal had been looking at the wrong design for a tailings facility – which is supposed to prevent mine refuse from contaminating nearby water bodies.
In its study released earlier this month, the federal panel said that, based on the tailngs design among other things, the project would pose “several significant adverse environmental effects.” The report was submitted to the Minister of the Environment to help make a final decision.
Taseko began improving its plans after the Federal government initially rejected Prosperity in 2010. In a letter to the Minister for the Environment dated November 8, Taseko wrote that it was spending more than $300 million in developing a mine that would preserve Fish Lake – which environmental opponents claim would be in endangered by mine tailings.
“As you know, the Project design was fundamentally modified to address aboriginal concerns noted in the first review panel 2010. We are spending over $300 million extra to develop the mine in a manner that preserves Fish Lake. This is precisely what the federal government encouraged us to do when rendering its initial decision in 2010.” – Taseko’s letter to Leona Aglukkaq, Minister for the Environment
Taseko then called on the Minister to approve the project:
“It is apparent that you have no reasonable choice but to conclude that the Project is not likely to cause significant adverse environmental effects … As such, the Project should be approved at this time and allowed to move into further regulatory processes”
In a statement issued Monday, the mining company noted that the CEAA had refused to publicize these letters on its internet registry. Taseko CEO Russell Hallbauer said the Agency’s reluctance to post the letters “creates an inaccurate portrayal” of the company and gives the “impression … that our critique of the panel’s findings are somehow flawed.”
“We have therefore posted the specific documents related to this matter on Taseko’s website to ensure our shareholders, community stakeholders and the general public are fully aware of the facts,” Hallbauer added.
In the letter to the CEAA, Taseko says that it would be “highly unfair and prejudicial” if the Minister did not consider the alleged errors.
The Minister has 120 days after receiving the report to make a decision on the mine.
New Prosperity holds measured and indicated resources of 5.3 billion pounds of copper and 13.3 million ounces of gold. At metal prices of $1,000 per ounce of gold and $3.15 per pound copper, the project has a pre-tax net present value of $3 billion, according to Taseko’s website.
5 Comments
Listen
Hallbauer is the Rob Ford of the mining world, and Battison is the Doug Ford … with each day, it gets more bizarre. Minister Aglukkaq, time to shut it down!
Anthony Maw
It’s not about any environmental issue in BC. Never has been. Historically mines have destroyed (and polluted) vast tracts of wilderness in BC and nobody batted an eye. It’s got everything to do with those pesky….. and ……s.
LAMB
It is not about MINING & the Environment, it is about POLITICS – Governments trying to appease NATIVE Bands. These days, they are bending over backwards trying to get in their good books after years of neglect – so Mining has to suffer the consequences. That still does not make it right or just.
As for Anthony Maw’s comment (typical of people who know nothing about MINING), it is not MINING that has caused the devastation on “vast tracts of land in BC”, it is FORETRY with it’s CLEAR CUT method of harvesting trees. Canadians should take a few lessons from the Europeans – for instance, in Sweden, they perform selective cutting and reforestation, being careful to leave some mature healthy trees scattered throughout the harvest area of the forest to augment new growth.
In comparison to FORESTRY which uses THOUSANDS of ACRES, the footprint of a MINING operation is very small, occupying a few hundred acres, even less when it is an underground mine.
Nato
LAMB – you obviously know nothing about forestry.. Canada has the highest standard of forestry practices in the world.. And yes they do selective logging on unfavorable slopes and environmentally sensitive areas. I have worked in forestry for many years, and its people like you who have no clue that give it a bad name. Clear cut logging actually increases the biodiversity of a forest, as well as decreases the regrowth time compared to any other method. The trees grow fastest and respond most vigorously under clear cut conditions. Also there are many smaller mammals and birds that need that type of forest management to thrive in their niche. just in the same sense as forest fires. Europe has been forced to log the way they do, because of their unsustainable practices. In Canada you don’t just clear cut whatever you want, there are many studies and surveys that go into a plot design before it is allowed to go thru.. .but obviously you have never witnessed that beyond your arm chair
buzzsawemall
Winter is coming and I need my firewood, so let’s get the saws out and have it boys. When your done please deliver free, hey!