TORONTO (miningweekly.com) – Base metals producer Taseko Mines has formalised a participation and cooperation agreement between the Gibraltar mine, in British Columbia, and its next-door neighbour, the Soda Creek Indian Band (Xat'sull).
"We are pleased to formalise a relationship with Taseko regarding the Gibraltar mine. This agreement provides us with capacity and a forum to directly engage with the mine on environmental and economic issues. It also provides valuable support for community development and educational initiatives for our members,” Xat'sull Chief Donna Dixon advised.
The agreement reflected a commitment by the parties to work together productively and harmoniously, in the spirit of good faith and cooperation.
"Formalising the relationship with the Xat'sull First Nation is a positive step forward with our First Nations neighbour. It demonstrates the mutual respect of both parties and recognises the contributions that each make with their communities and the region,” Taseko president and CEO Russell Hallbauer commented.
This agreement, along with the revenue sharing agreement with British Columbia from the mineral tax generated by Gibraltar, ensured that the more-or-less 400 community members participated economically in the ongoing operational and financial success of Gibraltar.
The mine was a joint venture owned 75% by Taseko and 25% by Cariboo Copper.
Taseko had earlier this month reported a strong quarter-on-quarter production improvement for the three months to June 30, with copper output some 40% higher as the mine encountered higher-than-expected grades. The TSX- and NYSE MKT-listed miner produced 39.8-million pounds of copper and 479 000 lb of molybdenum in the second quarter of the year, resulting in sales for the quarter of 42-million pounds of copper and 400 000 lb of molybdenum.