Seeking Alpha

Canada rejects Taseko mine project on environmental grounds

  • 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.
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