VANCOUVER, May 26, 2020 /CNW/ - Taseko Mines Limited
(TSX: TKO; NYSE American: TGB; LSE: TKO) ("Taseko" or the
"Company") is pleased to announce it has entered into an Agreement
with an Indigenous Nation regarding Taseko's intentions to commence
the regulatory approval process of the Yellowhead Copper Project
("Project").
The agreement represents Taseko's commitment to recognize and
respect the Nation's inherent right to govern its lands, and the
importance of assessing the Project in accordance with its values,
laws, and community aspirations to make an informed decision on the
Project.
Russell Hallbauer, CEO of Taseko,
commented, "We are pleased to have come to an agreement to move
forward with open discussions. Our communication with the
leadership over this past year have been good, frank and
insightful. We have gained significantly in our understanding of
their role as caretakers of the lands and their approach to
stewardship and economic opportunity, and we thank them for taking
this first important step with us."
"Taseko is confident that a robust environmental assessment of
Yellowhead, one which takes into consideration the full array of
factors important to indigenous people and communities from
Kamloops to Blue River, will result in a favorable
regulatory decision. Advancing this project now is especially
timely given the economic and human needs of the region and the
province. Construction and operation of a long life mine will
significantly elevate opportunities for the people of this area for
decades into the future," concluded Mr. Hallbauer.
NOTE: Yellowhead has the potential to be one of the largest
open pit copper mines in North
America. The project is in the Thompson‐Nicola area of
British Columbia, approximately
150km north‐east of Kamloops near
Vavenby. The project includes a
90,000 tonne-per-day open pit copper mine with a 25-year mine life.
The Yellowhead Project increases Taseko's pipeline of global
reserves to approximately 15 billion pounds of contained copper.
With a significant amount of technical and environmental assessment
work already completed, including a 2020 Technical Report, Taseko
can advance the project with internal resources and minimal capital
expenditures for the next few years.
For more information on the Yellowhead Project please visit
www.tasekomines.com
Russell Hallbauer
Chief Executive Officer and Director
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" within the
meaning of applicable Canadian securities legislation and the
United States Private Securities Litigation Reform Act of 1995
(collectively, "forward looking statements") that were based on
Taseko's expectations, estimates and projections as of the dates as
of which those statements were made. Any statements that express,
or involve discussions as to, expectations, believes, plans,
objectives, assumptions or future events or performance that are
not historical facts, are forward-looking statements.
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 include 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 milling;
- uncertainties related to feasibility studies that provide
estimates of expected or anticipated costs, expenditures and
economic returns from a mining project;
- uncertainties related to the ability to obtain necessary title,
licenses and permits for development projects and project delays
due to third party opposition;
- our ability to comply with the extensive governmental
regulation to which our business is subject;
- 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 financing;
- 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 and estimates;
- environmental issues and liabilities associated with mining
including processing and stock piling ore;
- 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,
equipment failure or other events or occurrences, including third
party interference that interrupt the production of minerals in our
mines;
- the availability of, and uncertainties relating to the
development of, infrastructure necessary for the development of our
projects;
- our reliance upon key personnel; and
- uncertainties relating to increased competition and conditions
in the mining capital markets.
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.gov and home jurisdiction
filings that are available at www.sedar.com, including the "Risk
Factors" included in our Annual Information Form.
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SOURCE Taseko Mines Limited