- Write by:
-
Wednesday, May 27, 2020 - 10:24:39 PM
-
756 Visit
-
Print
Mining News Pro - Canadian base metals producer Taseko Mines has inked a deal with a British Columbia-based indigenous nation regarding the company’s intentions to kick off the regulatory approval process for its Yellowhead copper project.
The agreement, the Vancouver-based miner said, represents its commitment to recognize and respect local communities’ inherent rights to govern their lands.
It also highlights “the importance of assessing the project in accordance with the Nation’s values, laws, and community aspirations to make an informed decision on the project,” Taseko said.
Mining executives across the globe have stepped up efforts in the past years to gain and maintain social support for their projects and operations.
The concept, frequently called “social license to operate” (SOL), is now at the centre of most business strategies, as the mining and metals sector faces greater scrutiny from end consumers, demanding a transparent, ethical supply chain, as well as a lower carbon footprint.
The International Council on Mining and Metals (ICMM) has responded accordingly, releasing last year a new version of its guidelines on handling grievances in mining-affected communities amid increased pressure for miners to carry out socially-responsible investments and operations.
Originally published in 2009, the new version outlines good practices on how mining and metals companies should design effective mechanisms to handle and resolve community concerns and objections. It also provides practical tools to support companies with implementation.
Updated figures
Taseko recently completed a new development plan and updated study for Yellowhead, located 150 km northeast of Kamloops, British Columbia.
The update added 100 million tonnes to reserves and improved the economics and pegs pre-production capital costs for an operation with a 25-year mine life at C$1.3 billion.
Yellowhead now contains reserves of 817 million tonnes grading 0.29% copper equivalent (or 0.28% copper, 0.03 g/t gold and 1.3 g/t silver).
Taseko also owns the operating Gibraltar mine and is advancing the Florence copper project in Arizona. In December, it announced a truce in a long-dragged battle with the Tsilhqot’in First Nation, by beginning talks with the group, mediated by the province, regarding its New Prosperity project, also in British Columbia.
The company acquired Yellowhead in 2014 in an all-stock transaction valued at C$13 million.
Short Link:
https://www.miningnews.ir/En/News/536378
Barrick Gold Corp.’s chief executive officer says the gold miner will continue to host virtual-only annual general ...
China’s copper producers are planning to export up to 100,000 metric tons of metal, the largest volume in 12 years, ...
A takeover of Anglo American Plc would need to be pitched at more than £30 ($37.6) per share, a higher price than BHP ...
Barrick Gold is not interested in bidding for Anglo American, which last week received a $39 billion takeover offer from ...
Canadian miner Barrick Gold on Wednesday beat first-quarter profit estimates on higher bullion prices and said it has ...
Barrick Gold faced criticism outside its annual general meeting on Tuesday in Toronto for supporting Malian rulers with ...
BHP Group can’t cherry pick Anglo American assets without paying a hefty premium, Anglo investors told Reuters, ...
Anglo American faced calls from shareholders on Monday to detail plans for improving its value in order to fend off ...
Copper slipped after initially extending gains above $10,200 a ton as traders turned their attention to demand ...
No comments have been posted yet ...