Toronto-listed Taseko Mines has entered into an agreement with an indigenous nation regarding the miner’s intentions to start the regulatory approval process for the Yellowhead copper project, in the Thompson‐Nicola area of British Columbia.
Located about 150 km north‐east of Kamloops near Vavenby, the 90 000 t/d openpit mine project could be one of the largest in North America.
“Our communications 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,” said Taseko CEO Russell Hallbauer.
He added that Taseko was confident that a robust environmental assessment of Yellowhead, one which took into consideration the full array of factors important to indigenous people and communities from Kamloops to Blue River, would result in a favourable regulatory decision.
In a 2019 technical report, the company stated that the Yellowhead mine will produce 200-million pounds a year at an average copper cost of $1.43/lb in the first five years of its 25-year life. Life-of-mine production comes to 180-million pounds at $1.67/lb.
Over 25 years, Yellowhead will produce more than 4.4-billion pounds of copper, 440 000 oz of gold and 19-million ounces of silver. The gold and silver alone will generate by-product revenues of more than C$1-billion.
The mine project has an estimated capital cost of C$1.3-billion.
“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,” Hallbauer said.