Skip to content

Taseko Mines provides update on New Prosperity

Gibraltar Mines presented Chamber of Commerce members with an overview of the mines’ productions and an update on Prosperity mine.

It’s the largest undeveloped gold and copper mine in Canada – seventh in the world.

Brian Battison of Gibraltar Mines presented Chamber of Commerce members  with an overview of the mines’ productions and an update on the proposed Prosperity mine.

“This creates a lot of opportunities for a lot of people,” he said.

Battison first highlighted Gibraltar’s impact over the last five years:

• $1.2 billion in total mine revenue.

• $975 million in GDP generated for B.C.

• $576 million increased in consumer spending.

• $74 million increase in residential investment.

• $520 million increase in non-residential investment.

• Federal government – $408 million in additional revenues.

• Provincial government – $371 million in additional revenues.

He further broke down Taseko’s supplier expenditures by region, with 34 per cent allocated to B.C. Interior and Cariboo.

“Taseko purchased more than $82.5 million from the interior and Cariboo region in a 12-month period,” he said.

Battison said the types of goods and services include:

• a light vehicle fleet

• automotive parts

• fuel and greases

• propane

• tires

• pumps and pipes

• steel

• power transmission parts

• safety supplies

• catering services

• office supplies

• mill processing equipment

• freight, and

• bus transportation

“Approximately $18 million is spent each month on these types of services and suppliers,” he said.

Add to that, he said, the employees ‘buying power’ and 97 per cent of Taseko’s wages are paid to those living in Williams Lake, Quesnel and 100 Mile House with a figure of $48 million in annual wages.

“Now we want to build another mine – Prosperity,” he said.

“At the heart of that plan is a $300 million commitment to mitigate environmental impacts.”

The environmental impact statement, submitted to the Canadian Environmental Assessment Agency in Oct of 2012, details a commitment to protect Fish Lake, mitigate impacts to the environment and address First Nations concerns.

“Taseko sought out global experts to ensure there was no significant adverse environmental effects,” he said.

Battison said that statement includes no significant effects to a number of issues, including, air quality, terrain and soil, habitat, vegetation, fish life, water quality and human health.

Battison said if Prosperity is approved the real GDP will increase by $11 billion, adding another 57,000 gainfully employed people over the mines 20-year life span.

In addition, he said, the federal governments revenue will rise by $4.30 billion; the province’s revenue will rise by $5.52 billion; consumer spending will increase by $9 billion; production revenue will increase in excess of $11 billion; residential investment will rise by $786 million; non-residential construction investment will increase by $1.03 billion; investment in machines and equipment [by others] will increase by $1.38 billion and B.C.’s population is expected to increase by 5,400.

Battison spoke to concerns of First Nations, but said Taseko believes New Prosperity will “dramatically benefit First Nations.”

“The mine represents local opportunity for jobs, training, business development and community benefit,” he said.

“New Prosperity has the potential to generate $300 – $400 million in mineral tax for First Nations under the Provincial Revenue Sharing for First Nations program.”

Next steps include a federal review of the Environmental Impact Statement, a panel to conduct public hearings and write a report and the environment minister and cabinet decision.

Provincial requirements include emanating the existing environmental assessment certificate.

No dates have yet been slated for public hearings.