Vedanta to exclude base metals business from sweeping demerger
The group said it will consider the base metals business demerger at a later stage.
One of the top contenders to bring new copper pounds to market in the medium term is Taseko Mines (TSX: TKO; NYSE-AM: TGB; LSE: TKO), operator of the 75%-owned Gibraltar open-pit mine in British Columbia, company president Stuart McDonald tells The Northern Miner.
The Vancouver-based company is awaiting a final permit decision by the U.S. government’s Environmental Protection Agency (EPA) on its Florence Copper in-situ recovery project in Arizona.
The mining executive, who says Florence Copper “will be a money-maker at any copper price,” notes that based on the company’s ongoing dialogue with the EPA, the agency is due to issue the draft underground injection control (UIC) permit before the end of June.
“We are in a strong financial position and ready to move into a construction program at Florence in the coming months,” McDonald says in an interview.
Once the draft permit has been issued, there will be a 30-day public comment period with a public hearing scheduled towards the end, similar to the Arizona state process that Taseko completed last year.
