VANCOUVER – Taseko Mines Ltd. (TSX:TKO) said Friday that its attempts to revive its New Prosperity project took another step forward Friday.
The company said the Canadian Environmental Assessment Agency has formally accepted the company’s new project description for the proposed mine.
The decision means a federal environmental assessment of the project will start by Nov. 7.
“Under a comprehensive study, which is the process we expect for New Prosperity, CEAA will have 365 days in which to complete its review and submit a final report to the federal minister of the environment,” Taseko president and chief executive Russell Hallbauer said.
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The Prosperity project was killed by Ottawa last year after a negative environmental assessment of a plan that would have turned Fish Lake into a tailings pond.
The company has since reworked its design to save the lake.
The revised plan adds $300 million in capital and operating costs to the proposed mine, which was previously expected to cost about $800 million.
The company has estimated that the project would create 700 construction jobs for two years and 550 direct jobs and 1,280 indirect jobs over its 20 year operating life.
In addition to the Prosperity project, Taseko owns a 75 per cent stake in the Gibraltar mine and several other development stage projects in B.C..
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