Taseko Mines is willing to pay $300 million to save a remote B.C. lake so it can build its next mine, but Ottawa will get the final say.
The Vancouver-based mining company has submitted a revised mine plan for its $800 million Prosperity copper-gold project, which would be located near Williams Lake in B.C.'s Cariboo country.
The issue has been raised by B.C.'s new premier who has said the mine has the potential to aid the entire Cariboo region.
Ottawa rejected the mine plan in November, citing concerns over the proposed destruction of Fish Lake and its accompanying watershed.
The new plan spares Fish Lake, which is one-quarter the size of Stanley Park. The lake became a lightning rod for controversy last year when it was revealed that Taseko would drain the lake to store non-acid-generating rock from Prosperity's pit.
Brian Battison, Taseko's vice-president, corporate affairs, said the tailings pond would be moved to accommodate the lake, shifting its location two kilometres to the south.
Despite the move, Taseko said it would still have to drain neighbouring Little Fish Lake to make way for the tailings pond.
Battison also said the company no longer plans to build Prosperity Lake, which was originally intended to replace Fish Lake.
The new plan has been submitted to the provincial and federal governments.
Ottawa now has to decide if the project requires a second full-blown environmental review with a hearing panel or if the changes can be assessed separately.
B.C. premier-elect Christy Clark made the Prosperity Mine a key plank in her campaign and has called on the federal government to allow the mine to proceed.
from Western Investor, April 2011
