The Company focuses on enhancing production of copper and molybdenum from its Gibraltar mine and acquiring and advancing development of tonnage mineral deposits.
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This really tanked the past few months, but today the Prosperity Mine has finally been given approval after a revision.
While Friday's news was certainly welcome, it was not approval for the Prosperity Mine. It was simply the next step in the process. Taseko received acceptance of the project description, and the results of a new environmental assessment will be made available by November 7, 2012. See below:
VANCOUVER, Aug. 26, 2011 /PRNewswire/ - The Canadian Environmental Assessment Agency ("CEAA") has formally accepted Taseko Mines Limited's (TSX:TKO) (AMEX: TGB) ("Taseko" or the "Company") project description for its proposed $1 billion New Prosperity gold-copper mine in British Columbia's central interior.
"Acceptance of the project description ensures the Federal Government's environmental assessment of New Prosperity will begin on or before November 7, 2011. With this decision we have a clear view of the regulatory timeline ahead. 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," said Russell Hallbauer President and CEO of Taseko."
I am long TGB, and I welcome this news.