Deep sea mining puts $560 billion in land extraction at risk — report
Even in optimal scenarios, the activity would generate only $6.25 million in tax revenue for countries involved, says Planet Tracker.
Taseko Mines (TSX: TKO; NYSE: TGB; LSE: TKO) has signed a programmatic agreement under the National Historic Preservation Act (NHPA) section 106 process outlining the protocols for the treatment, handling, and protection of cultural resources at the Florence copper in-situ project site in Arizona.
All necessary signatories, which include the United States Environmental Protection Agency (EPA) and Taseko, have signed this agreement midway between Phoenix and Tucson.
This effective agreement aligns with the stipulations of the NHPA. The EPA released a draft of this agreement for public review in August 2022. Taseko addressed all received comments before the agreement’s final execution.
Stuart McDonald, Taseko’s president and CEO, said the agreement was significant, viewing it as a pivotal phase in the EPA’s permitting procedure. He believes it signals the EPA’s impending final decision on the underground injection control permit for the Florence copper.
Taseko has reported the project’s net present value at $930 million (post-tax, with an 8% discount rate). Additionally, the internal rate of return stands at 47% based on measured and inferred resources of 363 million tonnes with a 0.35% copper grade, amounting to 2.5 billion lb of the contained metal.
