Canada rejects Taseko mine project on environmental grounds

|About: Taseko Mines Limited (TGB)|By:, SA News Editor

Canada’s government has blocked development of Taseko Mines' (TGB -5.6%) proposed New Prosperity copper and gold mine in British Columbia, the second time in just over three years it has rejected the mine plan.

Canada's environment ministry says the project "is likely to cause significant adverse environmental effects that cannot be mitigated."

The decision could spell the death knell for the $1B project, which TGB has pursued for more than a decade.