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SOURCE Taseko Mines Limited
VANCOUVER, Nov. 1, 2013 /PRNewswire/ - Taseko (TSX: TKO; NYSE MKT: TGB) (the
"Company") today issued the following statement in response to the
Canadian Environmental Assessment Agency federal Review Panel report on
the proposed New Prosperity Gold-Copper Project in the
Cariboo-Chilcotin region of British Columbia:
The 323 page Review Panel report is detailed and we will be examining
and considering its full content over the coming days.
Taseko is committed to protecting Fish Lake, and fish habitat, and we
strongly disagree with the panel's findings related to the potential
impact on the water quality, fish and fish habitat of Fish Lake. Taseko
will challenge these findings as they contradict best practices in
place around the world today and expert opinion and analysis.
The report in most respects agrees with our assessment that there would
not be significant adverse effects. The risks are modest and the
social and economic benefits are enormous. The local governments and
many citizens of the region made this very clear throughout the panel
With any major project there will be different views and some
trade-offs, but we are confident the federal government can and will
approve this project.
Taseko has also made significant commitments during the environmental
assessment and is committed to further addressing any outstanding
issues during permitting.
During the course of the panel process, Taseko expressed a number of
concerns about the fairness of the process and will be reviewing the
report carefully against those concerns.
This project must go ahead and will be of enormous benefit to British
Columbia and Canada. It will provide thousands of person years of
employment and billions of dollars in new tax revenue. It is for the
government to make this decision - the panel just provides its report
For more information on the New Prosperity project and Taseko's plan
please visit newprosperityproject.ca
President and CEO
No regulatory authority has approved or disapproved of the information
contained in this news release.
CAUTION REGARDING FORWARD-LOOKING INFORMATION
This document contains "forward-looking statements" that were based on
Taseko's expectations, estimates and projections as of the dates as of
which those statements were made. Generally, these forward-looking
statements can be identified by the use of forward-looking terminology
such as "outlook", "anticipate", "project", "target", "believe",
"estimate", "expect", "intend", "should" and similar expressions.
Forward-looking statements are subject to known and unknown risks,
uncertainties and other factors that may cause the Company's actual
results, level of activity, performance or achievements to be
materially different from those expressed or implied by such
forward-looking statements. These included but are not limited to:
uncertainties and costs related to the Company's exploration and
development activities, such as those associated with continuity of
mineralization or determining whether mineral resources or reserves
exist on a property;
uncertainties related to the accuracy of our estimates of mineral
reserves, mineral resources, production rates and timing of production,
future production and future cash and total costs of production and
uncertainties related to feasibility studies that provide estimates of
expected or anticipated costs, expenditures and economic returns from a
uncertainties related to the ability to obtain necessary licenses
permits for development projects and project delays due to third party
uncertainties related to unexpected judicial or regulatory proceedings;
changes in, and the effects of, the laws, regulations and government
policies affecting our exploration and development activities and
mining operations, particularly laws, regulations and policies;
changes in general economic conditions, the financial markets and in the
demand and market price for copper, gold and other minerals and
commodities, such as diesel fuel, steel, concrete, electricity and
other forms of energy, mining equipment, and fluctuations in exchange
rates, particularly with respect to the value of the U.S. dollar and
Canadian dollar, and the continued availability of capital and
the effects of forward selling instruments to protect against
fluctuations in copper prices and exchange rate movements and the risks
of counterparty defaults, and mark to market risk;
the risk of inadequate insurance or inability to obtain insurance to
cover mining risks;
the risk of loss of key employees; the risk of changes in accounting
policies and methods we use to report our financial condition,
including uncertainties associated with critical accounting assumptions
environmental issues and liabilities associated with mining including
processing and stock piling ore; and
labour strikes, work stoppages, or other interruptions to, or
difficulties in, the employment of labour in markets in which we
operate mines, or environmental hazards, industrial accidents or other
events or occurrences, including third party interference that
interrupt the production of minerals in our mines.
For further information on Taseko, investors should review the Company's
annual Form 40-F filing with the United States Securities and Exchange
Commission www.sec.com and home jurisdiction filings that are available at www.sedar.com.
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