The Mining Association of British Columbia

The Mining Association of British Columbia

January 14, 2010 17:08 ET

MABC Hails B.C. Approval of Prosperity Mine

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 14, 2010) - The Mining Association of British Columbia (MABC) hailed the approval by the B.C. Environmental Assessment Office of the Prosperity gold-copper mine located near Williams Lake, owned by Vancouver-based Taseko Mines Limited.

"This is excellent news for B.C.'s mining sector and for the B.C. and Canadian economy," stated Pierre Gratton, President and CEO of MABC. "The social and economic contribution of this project will benefit all British Columbians for at least a generation. To put it into perspective, Prosperity is larger than the province's film and television industry."

Major mines are rare but very valuable to the economy, and Prosperity offers much in terms of job creation, royalties and tax revenues and new opportunities for First Nations and the Williams Lake region. Mining is the largest private sector employer of First Nations in Canada and the jobs created as a result of Prosperity will build on this success.

The B.C. mining sector currently contributes over $8 billion to the B.C. economy. The long term prognosis is for a robust B.C. mining sector, supported by demand for minerals and metals from emerging economies such as China and India. Over 20 B.C. mining projects are currently in or have recently completed the environmental review process. More than five are well-advanced and are planning to move to development in the next few years.

"MABC would also like to compliment the B.C. government for its continued commitment to and delivery of a robust, thorough and also timely and efficient environmental review process. Today's announcement was delivered within the scheduled time frame of the provincial EA process, which provides all industry with confidence and investment certainty. The industry hopes for a similar, timely outcome from the federal government," concluded Mr. Gratton.

BC's environmental assessment process is considered one of the best in Canada and is guided by sound environmental principles that ensure the responsible development of B.C.'s natural resources.

The MABC is regarded as the predominant voice of BC's mining industry representing the collective needs and interests of operating coal, metal and industrial mineral mining companies.

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