Chasing Prosperity

Document Sample
Chasing Prosperity Powered By Docstoc
					    6      NEWS                                                                                 Daily business news at                     Business in Vancouver November 30-December 6, 2010

 Chasing Prosperity                                                                                                                                                            TASEKO MINES
                                                                                                                                                                               LTD. (TSX:TKO)
                                                                                                                                                                                                                       He estimated that humans
                                                                                                                                                                                                                  have killed as many as in
                                                                                                                                                                                                                  the Chilcotin area in the last
                                                                                                                                                                                                                  nine years.
 Ottawa has already said “no” to Taseko Mines’ Prosperity project, but                                                                                                         $8
                                                                                                                                                                               $6                                      But according to a prov-
 the West Coast company plans to persevere with its massive gold play                                                                                                          $4                                 incial grizzly bear mortal-
                                                                                                                                                                               $2                                 ity report, vehicles and trains
 In this four-part Full Disclosure series, Business in Vancouver                                                                                                               $0
                                                                                                                                                                                                                  accounted for only of the
 takes a closer look at Vancouver-based Taseko Mines’ proposed                                                                                                                      N   J   M   M    J   S
                                                                                                                                                                                                                    ,     bears killed in B.C. be-
 Prosperity project, the fate of which will have a huge impact                                                                                                                                                    tween        and       .
                                                                                                                                                                                                                       B.C.’s environment min-
 on B.C.’s mining industry. The company says the $800 million                                                                                                                  CEO: Russ Hallbauer
                                                                                                                                                                                                                  istry questioned Taseko’s
 mine would stimulate billions of dollars in economic activity in a                                                                                                            Employees: 350
                                                                                                                                                                                                                  mitigation plans to protect the
 part of the province badly in need of it, but Ottawa rejected the                                                                                                             Market cap: $873m
                                                                                                                                                                                                                  bears, but Battison said Mc-
 project citing environmental concerns. In the first instalment of                                                                                                              P/E ratio: 7.30
                                                                                                                                                                                                                  Crory’s argument, made on
                                                                                                                                                                               EPS: $0.65
 the Chasing Prosperity series, BIV takes a trip to the Fish Lake                                                                                                                                                 behalf of the Tsilhqot’in, went
 site of the mine to get a first-hand look at that environment.                                                                                                                      SOURCES: STOCKWATCH, TSX,
                                                                                                                                                                                               GLOBE INVESTOR
                                                                                                                                                                                                                       “ ere was nobody to re-
 By Joel McKay                            But that mine might never                                                                                                                                               fute McCrory’s claims, so they
                                     be built; Ottawa has rejected                                                                                                                                                went unrefuted and the panel

 F     ish Lake: map in hand,
       Tom Broddy trudges
 through the snow with a look
                                     its proposal.
                                          As a result, the work crews
                                     and environmental consult-
                                                                                                                                                                                                                  accepted them.”
                                                                                                                                                                                                                       Yet the most glaring issue
                                                                                                                                                                                                                  during the federal review
 of renewed determination.           ants have all le Prosperity and                                                                                                                                              hearings was the relationship
     He jabs a nger at the map       its neighbouring Fish Lake.                                                                                                                                                  between First Nations and
 and explains that it would take          Even the First Nations are                                                                                                                                              Taseko.
 a failure of “catastrophic” pro-    nowhere to be found.                                                                                                                                                              In the nal day of hearings
 portions for the Prosperity              Amid the snow and howl-                                                                                                                                                 last May, Bruce Stadfeld, legal
                                                                            JOEL MCKAY

                                                                                                                                                                 JOEL MCKAY
 mine to cause any signi cant        ing wind, the only signs of                                                                                                                                                  counsel for the Canoe Creek
 damage to the environment.          prosperity in that shallow                                                                                                                                                   Indian Band, said the project
                                     Cariboo-Chilcotin valley are                                                                                                                                                 was a “one-way prosperity” for
                                     the few stands of trees that                        The Fraser Canyon, east of Taseko’s Prosperity project, is but one                   Taseko Mines’ engineering           Taseko.
                                     have managed to survive the                         part of the vast wilderness of B.C.’s Cariboo-Chilcotin region                       manager Tom Broddy says                  In an interview in June,
full disclosure

                                     widespread destruction of the                                                                                                            Prosperity has been designed        Taseko president and CEO
                                     pine beetle infestation.                            ernment rejected the project –         ,       rainbow trout, which                  so its environmental effects        Russ Hallbauer said the ght
                                          And yet Broddy is proud                        Fish Lake.                          local First Nations say they rely                are limited to the valley where     between the company and the
                                     of the mine his company pro-                             In order to build the pro-     on for food and recreational                     it’s located                        First Nations had little to do
                                     posed.                                              ject, Taseko needs to drain the     activities.                                                                          with the environment and was
                                          “It’s one of the tightest [pro-                lake to make way for the pit and         When Little Fish Lake                       community of Logan Lake             really about who controlled
                                     jects] and it’s got the smallest                    store le over non-acid-generat-     and Fish Creek are added in,                     was drained in the           s to   the land.
                                     impact that we could possibly                       ing rock.                           Prosperity would result in the                   make way for the Highland                “Our position is it’s Crown
                                     have designed,” he explained.                            Both the provincial and fed-   destruction of some ,                            Valley copper mine.                 land and there’s one owner,
                                          He should know.                                eral environmental assessment       rainbow trout.                                       Today, Highland Valley          one landlord and it’s the prov-
                                          As manager of engineering                      reports said the destruction of          But according to a       re-                has replaced that lake with a       ince of British Columbia,”
                                     projects at Taseko Mines Ltd.                       Fish Lake, as well as its neigh-    port on Fish Lake by engin-                      former tailings pond that hosts     Hallbauer said at the time.
                                     (TSX:TKO), Broddy has an in-                        bouring Little Fish Lake and        eering and environmental                         an annual y- shing tourna-               In the first day of hear-
                                     timate knowledge of Prosper-                        Fish Creek, would have signi -      consultant Knight Piesold,                       ment and, according to a            ings last spring, Ivor Meyers,
                                     ity’s design.                                       cant adverse a ects on the im-      the trout there are small, grow                  report, has an aquaculture per-     chief of the Yunesit’in First
                                          Beneath his feet is the ore                    mediate environment.                slowly and have high rates of                    mit to raise salmon.                Nation, took issue with that
                                     body that contains an estimat-                           Victoria nevertheless ap-      parasitism.                                          Yet the loss of Fish Lake       argument.
                                     ed . billion pounds of cop-                         proved the project in light of           “It’s not a desirable sports                and its surrounding habitat              “When you say this is
                                     per and . million ounces of                         the economic bene ts it would         shery,” Battison said.                         stuck out in the minds of Pros-     Crown land, sure, you may say
                                     gold.                                               create for a region of the prov-         In exchange for the de-                     perity’s federal review panel.      it’s Crown land, but in our per-
                                          Prosperity is a world-class                    ince that has been hit hard by      struction of the Fish Creek                             e panel also said the pro-   spective it’s traditional land,
                                     project among proposed                              the mountain pine beetle epi-       watershed, the company said it                   ject would have an adverse ef-      it belongs to the Tsilhqot’in
                                     mines worldwide.                                    demic and the forest industry       would build a new lake, which                    fect on the local grizzly bear      people, it belongs to the
                                          The project would create                       downturn.                           would be stocked with ,                          population and negatively af-       Tsilhqot’in Nation,” Meyers
                                     some         permanent jobs and                          But a er a lengthy campaign    trout.                                           fect the Tsilhqot’in Nation’s       said. “ at … Crown land sits
                                     generate approximately .                            by First Nations and environ-            Taseko also plans to turn                   use of the lands and its aborig-    right over top of the traditional
                                     billion for the provincial econ-                    mentalists opposing the mine,       Prosperity’s pit into a lake once                inal rights and title.              territory.”
                                     omy during its life, or about                       Ottawa rejected Prosperity.         the mine is closed.                                  Aside from that, the re-             But whether the project is
                                        ,      per B.C. resident.                             “What it created in the pub-        Still, Fisheries and Oceans                 view found the project would        on Crown land, traditional ter-
                                          But a few hundred metres                       lic’s mind … perhaps in Van-        Canada indicated in the fed-                     not have a significant nega-        ritory or both is not for Broddy
                                     from that would-be mine is                          couver or Eastern Canada, was       eral review that Taseko’s sh                     tive impact on water qual-          to decide. When it comes to
                                     the reason why the federal gov-                     that somehow a pristine moun-       compensation plan didn’t say                     ity, groundwater, vegetation,       Prosperity, his job is to come
                                                                                         tain lake or shery was about to     when the new lakes would be                      deer or moose populations, air      up with a design and engineer-
                                       NOTABLE NUMBERS                                   be destroyed,” said Brian Bat-      open to First Nations and the                    quality or human health.            ing plan that works. And de-
                                                                                         tison, Taseko’s vice-president,     public.                                              In a report to the panel,       spite the opposition to the pro-
                                       $4.5b             the amount
                                                         of money
                                       Prosperity would inject into
                                                                                         corporate affairs. “That was
                                                                                         a mischaracterization of the
                                                                                                                                  MiningWatch Canada, an
                                                                                                                             opponent of the project, said
                                                                                                                                                                              bear biologist Wayne Mc-
                                                                                                                                                                              Crory said increased tra c on
                                                                                                                                                                                                                  ject, he believes he has one.
                                                                                                                                                                                                                       “I take it with a grain of
                                                                                         facts.”                             Taseko dismissed the histor-                     roads to and from Prosper-          salt,” Broddy said. “I stick to
                                       the provincial economy
                                                                                              So what are the facts?         ical signi cance of the area for                 ity would increase collisions       the technical side of the issues
                                       throughout its life
                                                                                              Fish Lake has an average       both sport shermen and ab-                       with bears.                         and just hope that sound

                                       $800m                  the                        depth of feet and a foot-           originals.                                           He added that the mine          minds prevail.”
                                                              cost to                    print of hectares, which is              “It boggles my mind that                    would limit grizzly bear habi-
                                       build Prosperity                                  approximately one-quarter the       we would even consider the                       tat and movement corridors              (See “Regulators to probe
                                                                                         size of Stanley Park.               destruction of a world-class                     in the area and drive the lo-       Taseko stock volatility” page
                                       400          the number of
                                                    long-term full-
                                       time jobs the project would
                                                                                              It’s too small to be includ-
                                                                                         ed among a         Environment
                                                                                                                               shing lake,” Sierra Club BC
                                                                                                                             executive director George
                                                                                                                                                                              cal population toward extinc-
                                                                                                                                                                                                                  Next week: Business in Van-
                                                                                         Canada report that lists Can-       Heyman said in September.                               e province lists the bears   couver chronicles the prickly
                                                                                         ada’s lakes and, according to            But Fish Lake wouldn’t be                   as a “threatened” species, and      relationship between Taseko

                                       1/4    the size of Fish Lake
                                              in comparison with
                                       Stanley Park
                                                                                         Taseko, accounts for .

                                                                                              But it does contain some
                                                                                         the lakes in the Cariboo region.
                                                                                                                             the rst body of water in B.C.
                                                                                                                             to be replaced by a mine.
                                                                                                                                  Little Divide Lake near the
                                                                                                                                                                              McCrory said there are only
                                                                                                                                                                                          of them le in the
                                                                                                                                                                                                                  and First Nations, a ght that
                                                                                                                                                                                                                  was eventually broadcast na-
   12 NEWS                                                                                Daily business news at                                              Business in Vancouver December 7-13, 2010

full disclosure                     Chasing Prosperity
                                    In a four-part series that began in issue 1101 (November 30-December                   NOTABLE NUMBERS:                                                       A er the decision was handed
                                                                                                                                                                                              down, Taseko decided it was time to
                                    6), Business in Vancouver takes a closer look at Vancouver-based
                                    Taseko Mines’ proposed Prosperity project. The company says the                        $900,000                   the
                                                                                                                           Taseko paid First Nations to partici-
                                                                                                                                                                                              apply for the mining lease it needed
                                                                                                                                                                                              to proceed with the project.
                                                                                                                                                                                                  According to Battison, the First
                                    $800 million mine would stimulate significant economic activity                        pate in the environmental assess-
                                                                                                                                                                                              Nations said if the company moved
                                                                                                                           ment process
                                    in an economically depressed part of the province, but the federal                                                                                        ahead with the lease they would op-
                                    government rejected the project citing environmental concerns.
                                    In this second instalment of the series, BIV chronicles the prickly
                                                                                                                           $532,600                 what the
                                                                                                                           government paid to First Nations
                                                                                                                                                                                              pose the project.
                                                                                                                                                                                                  Shortly a er that, the provincial
                                                                                                                                                                                              government backed out of a joint re-
                                                                                                                           and environmental groups opposed                                   view panel with the federal govern-
                                    relationship between Taseko and First Nations.                                         to the project                                                     ment, e ectively separating the two
                                                                                                                                                                                              assessment processes.
                                    By Joel McKay                            environmental groups issued num-
                                                                             erous press releases blasting the pro-
                                                                                                                           $20,050              the amount
                                                                                                                                                the federal
                                                                                                                           government paid to groups in favour
                                                                                                                                                                                                  “Once that decision was made
                                                                                                                                                                                              the First Nations said, ‘ at’s it …

                                    M       ike King was flying over Fish
                                            Lake in        when he heard
                                    someone scream in the backseat.
                                                                             ject for the negative e ects it would
                                                                             have on their communities and the
                                                                                                                           of the project
                                                                                                                          fees to participate in the environ-
                                                                                                                                                                                              we’re done,’” Battison said.
                                                                                                                                                                                                  In an interview, Xeni Gwet’in
                                                                                                                                                                                              Chief Marilyn Baptiste said the
                                            en he smelled smoke.                 Their campaign even caught               mental assessment process.                                          province pulled out of the joint re-
                                        “I thought something was wrong       the ear of Assembly of First Na-                Some chiefs were even paid per                                   view process after a similar joint
                                    and landed the helicopter,” recalled     tions national Chief Shawn Atleo,            diems to attend information meet-                                   review rejected Northgate Min-
                                    King, owner of Tatla Lake’s White        who reiterated his support for the           ings, and the company undertook a                                   erals Corp.’s (TSX:NGX) proposal
                                    Saddle Air Services.                     Tsilhqot’in in a speech in Vancou-                ,     archaeological assessment                                to build the Kemess North mine in
                                        But there wasn’t anything wrong:     ver in September.                            to determine the project area’s cul-                                northern B.C.
                                    in fact the helicopter’s geophysical            ese days, Taseko and the First        tural signi cance.                                                      “A er the Kemess North mine
                                    survey equipment, which was new,         Nations don’t even talk, but Brian              During the assessment process,                                   was shut down … the company no
                                    had detected a sub-surface ore body      Battison said it wasn’t always that          the provincial government provid-                                   longer wanted that to be one of the
                                    so large it fried the machine’s cir-     way.                                         ed       ,    to four local aboriginal                              options,” Baptiste said.
                                    cuits and alarmed the geophysicist           “ e consultation records that we         groups to help them determine their                                     Last January, a separate provin-
                                    operating it.                            have, records of consultation with           interests in the project area.                                      cial government decision approved
                                            at ore body contained massive    First Nations, date back to the mid-            As well, the federal government                                  Prosperity, but the federal process
                                    amounts of copper and gold, and in            s … I think it can be argued that       provided more than            ,     in                              had yet to begin its hearings.
                                    proceeding years earned the name         is when the relationship began,” said        “participant funding” to First Na-                                      In March, days of hearings
                                    Prosperity.                              Battison, Taseko’s vice-president of         tions and environmental groups op-                                  began in communities throughout
                                        Last month, the federal govern-      corporate a airs.                            posed to the project during its as-                                 the Cariboo-Chilcotin region.
                                    ment rejected Taseko Mines Ltd.’s                                                     sessment process.                                                       According to hearing transcripts,
                                    (TSX:TKO) proposal to turn that ore      “Our nation has to be in control                Groups in favour of the project                                  dozens of First Nations and Cariboo
                                    body into a major new mine.                                                           such as the Williams Lake Cham-                                     residents spoke against and in fa-
                                        Ottawa cited the proposed de-        of what happens or does not                  ber of Commerce and Share Cari-                                     vour of the project.
                                    struction of Fish Lake as the reason                                                  boo-Chilcotin Resources Society,                                        In a short speech to the review
                                    behind its decision, though it fol-      happen in our territory”                     received       ,    from the federal                                panel, Chilcotin National Con-
                                    lowed a lengthy and at times viru-                                                    government.                                                         gress Chief Francis Laceese ex-
                                                                                                    – Francis Laceese,
                                    lent First Nations campaign to op-                                                       Meanwhile, the landmark rights                                   pressed concern that if Prosperity
                                    pose the project.                                                                     and title case Tsilhqot’in Nation vs.                               were approved it would be the rst
                                                                                          Chilcotin National Congress
 “There’s a big shiny boat              Aboriginal groups such as the                                                     British Columbia (the William case)                                 of many mines to come.
                                    Tsilhqot’in National Government,                                                      wound its way through B.C. Su-                                          “Our nation has to be in control
 going by and you can               which includes ve communities,                                                        preme Court.                                                        of what happens or does not happen
                                    claim Fish Lake is part of their trad-                                                   In        , the court found the                                  in our territory,” Laceese said.
 either throw eggs at it or         itional territory, adding that the                e company initiated the ori-        Tsilhqot’in have rights to hunt and                                     Baptiste explained that her
                                    mine would infringe on their rights      ginal environmental assessment in            trap throughout their claim area,                                   people consider the Fish Lake area
 hop on it and go work”             and title to the area.                        , but shut the process down in          which included Prosperity, but ab-                                  and the nearby Nemaiah Valley an
                                        But King, who has logged some                due to weak metal prices.            original title could not be granted.                                aboriginal wilderness preserve akin
                     – Mike King,
                                      ,      hours of ying time in B.C.’s       In         the company re-activat-           Had the case been argued di er-                                  to a park.
                                    Cariboo-Chilcotin region, said al-       ed it and, in       , began the federal      ently, the court said, the Tsilhqot’in                                  The First Nations hope to de-
        White Saddle Air Services
                                    though First Nations claim rights        environmental process.                       might have received title to almost                                 velop a wilderness tourism industry
                                    and title to the area they don’t spend      At that point, Battison said the          half the claim area, but that half did                              in the area, which would create jobs
                                    a lot of time there.                     chiefs asked the company to “paint           not include Prosperity or the Fish                                  for their people and include shing
                                        “There was never anybody at          a picture” of what the mine would            Lake area.                                                          tours to Fish Lake.
                                    Fish Lake … except the guys we           look like and what a ect it would
                                    take there. It doesn’t happen,” said     have on the environment.
                                    King.                                       “ ey said, ‘In order to help us
                                        Nevertheless, the question as to     to understand, we need money to
                                                                                                                                                                                       1969 – Taseko acquires the property

                                    who has control over the land where      help us paint the picture,’” Batti-
                                                                                                                                         conducts a small drill program

                                    the mine would be built was cen-         son said.
                                    tral in the run up to the federal de-       Between            and       Taseko
                                                                                                                                         1963-64 – Phelps Dodge

                                    cision.                                  paid Tsilhqot’in leaders more than
                                        Prior to that, First Nations and            ,     in legal and consulting

 Prosperity timeline
  1930s – prospectors begin exploration near Prosperity

 1930                 1935                1940                 1945               1950                  1955                 1960                                          1965                                              1970   1975
  6   NEWS                                                              Daily business news at                  Business in Vancouver December 14-20, 2010

                  Chasing Prosperity
                                                                                                                                                                 PART 3

full disclosure
                  Taseko’s Prosperity project could generate huge economic wealth for the Williams Lake
                  region, but First Nations say their communities are the only ones that won’t reap the bene ts

                  In a four-part series that began in issue 1101 (November 30-December
                  6), Business in Vancouver takes a closer look at Vancouver-based
                  Taseko Mines’ proposed Prosperity project. The company says the
                  $800 million mine would stimulate significant economic activity in a
                  depressed part of the province, but the federal government rejected
                  the project citing environmental concerns. In this third instalment in
                  the series, BIV focuses on the economic benefits of the project and
                  mining’s current and historic influence.

                  By Joel McKay

                  A      fter a long shift at Gibraltar,
                         some of the mine’s young en-
                  gineers gather at the Boston Pizza
                  in Williams Lake for a drink and a                                                   Work at the Gibraltar mine near Williams Lake: the mine is a major employer in the
                  few laughs.                                                                          area; Prosperity would have been another
                      Soon, more workers lter in from
                  the local mines and mills, and the                                                       As well, residential investment ex-        On the same day Ottawa rejected
                  quiet eatery turns into a boisterous                                                 penditures would increase           mil-   Prosperity, it green-lighted omp-
                  gathering place.                                                                     lion, machinery and equipment in-          son Creek Metals’ (TSX:TCM)
                      But mention the word “prosper-                                                   vestment would climb . billion and         million Mount Milligan copper-gold
                  ity” and the laughter zzles.                                                         some , -person years of employ-            project near Fort St. James.
                      It’s not entirely because Ottawa                                                 ment would be added to the provin-             Terrane Metals, a Thompson
                  rejected in November Taseko Mines’                                                   cial economy.                              Creek subsidiary, adopted the As-
                  (TSX:TKO) proposal to build the            Taseko spokesman Brian Battison says          But the First Nations say Prosper-     sociation for Mineral Exploration
                  million Prosperity copper-gold mine        the company was open to creating          ity o ers no bene ts for them.             BC’s principles for sustainable re-
                  west of town. It’s the overall economy     job opportunities for First Nations if        “There’s no reason to conclude,        lationships with First Nations during
                  of the Williams Lake region: it hasn’t     aboriginals were willing to ask           in [Tsilhqot’in National Govern-           Mount Milligan’s development.
                  known prosperity in years.                                                           ment’s] view, that the economic bene-          Terrane provided . million to
                      In a nal plea to the federal en-        FIRST NATIONS NUMBERS:                     ts of the mine project will reach …      the Nak’azdli First Nation and Mc-
                  vironmental review panel in May,                                                     the Tsilhqot’in Nation in any real way,    Leod Lake Indian Band in project-
                  Mayor Kerry Cook outlined just how
                  poor the region’s economy is.               1,000           the approximate
                                                                              population of the Xeni
                                                              Gwet’in, Tl’etinqox-t’in, Stone and
                                                                                                       and certainly not on a scale that could
                                                                                                       compensate for the loss,” said Sean
                                                                                                                                                  related contributions.
                                                                                                                                                         e company also partnered with
                      “ e people, all of our people, our                                               Nixon, on behalf of the Tsilhqot’in,       post-secondary institutions to create
                  youth and our grandchildren, we             Alexis Creek bands                       during the nal day of hearings in          a three-week environmental training
                  need this, we need this hope,” Cook                                                  May.                                       program for First Nations and has
                  said. “Our future depends on it.”
                      In       , Cook said, Williams Lake
                                                              31% to 46.7%
                                                              the unemployment rate in those com-
                                                                                                           According to the most recent sta-
                                                                                                       tistical data from Indian and North-
                                                                                                                                                  provided employment to aboriginals
                                                                                                                                                  to assist with project operations.
                  lost a third of its workforce, which        munities in 2001                         ern A airs Canada, four bands near             On top of that, the province has
                  meant a loss of million per week to                                                  Prosperity have a combined popula-         signed revenue-sharing agreements
                  the local economy.                                                                   tion of approximately , .                  with several First Nations for both
                      Unemployment rose to           from    sion to reject the mine means it’s not        In      , the unemployment rate in     Mount Milligan and New Gold’s
                    . , consumer bankruptcies were up        likely to be built any time soon.         those communities ranged between           (TSX:NGD) New A on projects.
                       , vacancy rates climbed        and         And there aren’t any other major          and . .                                   Since Mount Milligan was ap-
                  there was a         to       increase in   projects on the books.                        In his speech, Nixon pointed out       proved, Harwood said Fort St. James
                  the number of families using the lo-            “We didn’t see anything that could   that despite years of work and             is barely recognizable.
                  cal food bank.                             fill the gap as quickly as this mine      million of investment, Taseko had yet          “I’ve never seen this community
                      Hard times in Williams Lake were       could have.”                              to o er concrete programs or policies      blossom the way it has,” Harwood
                  largely the result of the downturn in           So what would the mine have done     to increase aboriginal employment.         said.
                  the forestry sector, which has long        for the economy?                              When asked if Taseko had laid              Not only are all the motels in town
                  been the backbone of the Cariboo-               According to an economic im-         out an employment plan for area ab-        packed, but Fort St. James also has
                  Chilcotin economy.                         pact report prepared by the Centre        originals, vice-president of corporate     plans to build a -home subdivision
                      These days, empty storefronts          for Spatial Economics, which dra s        a airs Brian Battison said it hadn’t,      and has interest from ve hotel groups
                  along the town’s (population , )           reports for the provincial and federal    although the project was eligible for a
                  main drag are the norm.                    governments, Prosperity would inject      revenue sharing agreement between
                      Walter Cobb, president of the             . billion and . billion into the       First Nations and the provincial gov-
                                                                                                                                                    Prosperity’s numbers:
                  Williams Lake & District Cham-             federal and provincial governments,       ernment.                                     $6.9 billion – B.C. increase in con-
                  ber of Commerce, said the town’s           respectively, over a -year mine life.         “We were prepared to try and to          sumer spending over life of mine
                  two nearby mines – Taseko’s Gibral-             The project would employ             deliver everything we could possibly
                                                                                                                                                    $3.4 billion – provincial revenue
                  tar and Imperial Metals’ (TSX:III)         people during a two-year construc-        deliver … but what you need is people
                                                                                                                                                    from the project over life of mine
                  Mount Polley – keep the town on life       tion phase, and support       jobs once   who are willing,” Battison said.
                  support while the local mills oun-         the mine was in production.                   Sandra Harwood, mayor of Fort            $743 million – residential investment
                  der.                                            It would generate an estimated       St. James, believes concrete agree-          expenditures as a result of the mine
                      Prosperity, he said, would have            . billion increase in consumer        ments with First Nations are essential
                                                                                                                                                    700 – the number of construction
                  been a panacea.                            spending in B.C. over its lifetime.       to any mine proposal.
                                                                                                                                                    jobs Prosperity would create
                      “ at basically would have helped               at means the disposable income        “I don’t see any other way it can be
                  us weather the storm during the            of each household in the province         done,” Harwood said.                         400 – the number of full-time jobs
                  downturn.”                                 would increase ,        on average over       Her town (population , ) will            the mine would support
                      But the federal government’s deci-     the life of the mine.                     soon be home to a new mine.
December 14-20, 2010 Business in Vancouver                            Daily email edition:                                                                                             NEWS          7

                                                                                  daily online edition                             GOLDEN GOALS

                                                                       BUSINESS TODAY                                              BOB MACKIN
                                                                          See full stories and other
                                                                         local business news posted                                WADA lost opportunity:
                                                                                    daily at:
                                                                                                No bid for big sports convention
                                                                       Forest report sheds light
                                                                       on industry’s downturn
                                                                       In what’s being called the most
                                                                       intensive and thorough report
                                                                                                            N      ot only was Vancouver
                                                                                                                   the world’s winter sport
                                                                                                            capital in February, but it
                                                                                                                                                 July when it disclosed . mil-
                                                                                                                                                 lion Olympic tickets were sold
                                                                                                                                                 for      million – ,        tick-
                                                                                                                                                                                      Bilbey said EA sta account
                                                                                                                                                                                      for    to
                                                                                                                                                                                                     of Whitecaps’

                                                                       ever produced on the state of        was also the battlefield in the      ets and million in revenue               The MLS-bound White-
for new developments.                                                  B.C.’s forests, the Liberal gov-     moveable war against drug            short of its forecast. at same       caps have one more sponsor to
        e story is the same in      Williams Lake                      ernment on ursday provided           cheats in sports.                    report said . billion viewers        announce before Christmas.
Princeton (population , )
where the Copper Mountain
                                    numbers:                           a clear view of the devastation
                                                                       that has strangled one of B.C.’s
                                                                                                                    e World Anti-Doping
                                                                                                            Agency oversaw a temporary
                                                                                                                                                 (not . billion) tuned in to the
                                                                                                                                                                                      Chief executive Paul Barber
                                                                                                                                                                                      won’t give any hints.
mine is being built.
    Mayor Randy McLean
said the mine has brought
                                    1/3    the portion of
                                           Williams Lake’s
                                    workforce lost in 2009
                                                                       most historic industries.
                                                                           According to the        State
                                                                       of Forests report, B.C. lumber
                                                                                                            laboratory at the Richmond
                                                                                                            Olympic Oval, but it won’t be
                                                                                                            back in        . e Montreal-
                                                                                                                                                     Also expect the latest chap-
                                                                                                                                                 ter in the Pricewaterhouse-
                                                                                                                                                 Coopers’ Olympic E ect eco-
                                                                                                                                                                                      Commonwealth corruption
                                                                                                                                                                                      Could the Delhi            Com-
hundreds of new workers to                                             production declined           last   based spinoff of the Inter-          nomic impact report (paid for        monwealth Games harm
    “It’s like night and day …
                                    12%        Williams Lake’s
                                    rate in 2009
                                                                       year compared with
                                                                                      , forest product
                                                                                                            national Olympic Commit-
                                                                                                            tee wasn’t even invited to re-
                                                                                                                                                 by the B.C. and federal govern-
                                                                                                                                                 ments). Maybe the Tories will
                                                                                                                                                                                      India’s foreign trade?
                                                                                                                                                                                          Government agencies are
I think there’s only two hotels                                        exports totalled . billion           turn for its World Conference        also tell us how much more           probing the organizing com-
right now that o er rooms for
people passing through.”
    McLean added that the
                                    in 2009
                                                 the increase in
                                                                       compared with an average of
                                                                           . billion between
                                                                                                            on Doping in Sport.
                                                                                                                On November , it named
                                                                                                            Johannesburg, South Africa,
                                                                                                                                                 taxpayer dollars were spent on
                                                                                                                                                 the Bailout Games.
                                                                                                                                                                                      mittee and its executives for
                                                                                                                                                                                      corruption. Foreign com-
                                                                                                                                                                                      panies hired to help stage the
town is awash in develop-                                                      is while U.S. lumber con-    the        host. Previous hosts      Stadium sponsors                     games are having a night-
ment opportunities.
    Yet the boom times a mine
                                    500%             to 600%
                                    increase in the number of
                                                                       sumption dropped           since
                                                                             , and lumber prices hit a
                                                                                                            include Copenhagen (
                                                                                                            and Madrid (
                                                                                                                                   ). Applica-
                                                                                                                                                 Strike EA Sports o the list
                                                                                                                                                 of potential naming rights
                                                                                                                                                                                          Veteran ceremonies pro-
can create shouldn’t be any                                               -year low in         .            tions closed August . Un-            sponsors for BC Place Sta-           ducer Ric Birch of Spectak
                                    Williams Lake families who
surprise for people who know                                           Thursday, December 9                 successful bidders included          dium.                                charged organizers with un-
                                    used the food bank in 2009
the province’s history.                                                                                     Dallas, Texas; Kuwait City;              EA Sports vice-president         paid bills and the Indian cus-
    In addition to the gold                                            Raise energy rates to cut            Sochi, Russia; and Ljubljana,        Matt Bilbey said it’s “unlike-       toms department with illegal-
rush that drew tens of thou-       ternative it slid into poverty.     carbon: SFU report                   Slovenia. Vancouver wasn’t on        ly” his company name will be         ly holding lighting and sound
sands of prospectors to B.C.           “To this day … we have          Among recommendations                the list.                            on the marquee. e Novem-             equipment. He’s threatening
in the early         s, many of    not seen any true bene ts for       made in a Simon Fraser Uni-              “We did consider the             ber marriage with the Van-           to campaign against Delhi if it
the province’s lasting settle-     the Tsi Del Del people as a         versity report about shifting        WADA congress,” said Tour-           couver Whitecaps is largely a        bids for the Olympics.
ments owe their existence to       whole derived from the ex-          B.C. and Canada to low-car-          ism Vancouver market-                content deal.                            “It is extraordinary, because
mining.                            traction of resources,” Gui-        bon economies is a call for B.C.     ing vice-president Walt Ju-              The company known for            India claims to be a growing
    “ e best example is the        chon told the panel.                to establish a “natural capital      das. “However, as with many          its “Get in the Game” slogan         economy that’s interested in
                                       W hen a sked i f t he           index” that supplements our          sporting conferences and             is getting in the stadium to use     exporting to the world – but
                                   Tsilhqot’in people were com-        current reliance on GDP as a         events, the buy-in fee is be-        the building, players and fans       the inability of Indian gov-
“To this day … we have             pletely opposed to resource         measure of progress.                 yond our means.”                     in future editions of its FIFA-      ernment agencies to handle a
                                   industries, Xeni Gwet’in                Such an index, said the re-          The Vancouver Conven-            approved soccer video games.         straightforward import/export
not seen any true benefits         Chief Marilyn Baptiste              port, is similar to Norway’s Na-     tion Centre would have met           Since debuting in       , the line   transaction makes it doubt-
                                   wouldn’t say.                       ture Index, which accounts for       WADA’s requirement for con-          of games has recorded bil-           ful whether any international
for the Tsi Del Del people as          “I would be cautious with       “ecosystem services” in that         ference facilities for up to ,       lion in global sales.                company can rely upon India’s
                                   answering outright because          country’s measures of econom-        people and a United Nations-             EA already sponsors Chel-        ability to conduct business in a
a whole derived from the           anything I say could be twist-      ic progress.                         style congress. Delegates cover      sea, Arsenal and Real Madrid.        proper manner,” Birch wrote
                                   ed,” Baptiste said.                        e report, which was fund-     the cost of travel and accom-        The Burnaby studio, which            in an open letter.
extraction of resources”               To the east of Baptiste’s       ed by Plutonic Power, BC Hy-         modation, but bid guidelines         even has a soccer pitch, is the
                                   community, Williams Lake            dro, e Paci c Institute for          say “WADA does not wish for          workplace for ,          people.
               – Percy Guichon,    is hungry for another mine          Climate Solutions and Zurich         conference fees to be charged
                          chief,   to put smiles on its residents’     Financial Services, also calls       to participants.”
              Alexis Creek Band
                                   faces and revive its resource-      for gradual increases in B.C.            Judas also said Tourism
                                   based economy.                      electricity rates so rates more      Vancouver’s sport committee
whole southeast of British             But even though the min-        accurately re ect market prices      “has been dormant for a time
Columbia … that area of            ing industry has a long hist-       and costs associated with creat-     but will be reactivated in the
British Columbia only came         ory of driving B.C.’s economy,      ing new power supplies in the        near future, likely with a re-
to be settled in the          s    the negative impact it’s had on     province.                            vised mandate.”
and       s because of one of      First Nations could be what’s       Thursday, December 9
the major mining booms in          holding back progress.                                                   Numbers Games
North America,” explained                 e memory of being cut        Tanker traffic “feeds” Lower          It’s called “Take Out the
Jean Barman, a University          out of B.C.’s historic boom         Mainland’s economy: port             Trash Friday” and it will be
of British Columbia profes-        times is still very much a part     West Coast environmental             one of VANOC’s last acts.
sor with expertise in B.C. and     of the aboriginal mindset,          groups have lauded a motion              Governments and arms of
aboriginal history.                Barman said, and those stor-        passed Tuesday in Ottawa call-       government know they can’t
    She said towns such as         ies are passed down to today’s      ing on the Harper government         keep secrets forever, so they
Rossland, Nelson and Trail         generation.                         to legislate a formal ban on oil     tend to release un attering in-
were founded on mining.                “Aboriginal people were         tanker tra c along B.C.’s north      formation on a Friday when
    Yet in the Williams Lake       completely without a voice          coast.                               they think the media aren’t
area, forestry was the main        … they were never allowed               But Port Metro Vancouver         paying attention and the pub-
economic driver, and al-           to even be bit players in any of    COO Chris Badger told Busi-          lic doesn’t care.
though it was good for the         this,” Barman said. “It’s still     ness in Vancouver that tank-             That’s what’ll happen on
town it did little for aborig-     going on to a large extent, and     er tra c is vital to the Lower       December when VANOC
inals.                             that’s the problem.”                Mainland’s economy.                    nally releases its rst nan-
    In April, Alexis Creek                          “We as the Lower Mainland        cial report in almost a year.
Band Chief Percy Guichon                                               have increased our need for re-      If the post-Games numbers
told Prosperity’s federal re-      Next week: Business in Van-         fined crude products … so a          were something to be proud
view panel that his people         couver focuses on how the de-       considerable amount of re ned        of, why would chief nancial
had once relied on a local mill    cision to reject Prosperity will    fuels are coming back into B.C.      o cer John McLaughlin have
for employment.                    affect the company, the in-         in order to feed the airport, to     waited until the last e ective
    When it burned to the          dustry and the province’s re-       feed the economy.”                   business Friday of the calen-
ground and the community           source permitting process.          Wednesday, December 8                dar year?
was le without a viable al-                                                                                        e IOC gave us a hint in
December 21–27, 2010 Business in Vancouver                             Daily email edition:                                                                                                 NEWS             7

ment factored socio-economic con-
siderations into their decision.
    He added that the -month time
di erence between the provincial and
                                                In November, members of the
                                           Nak’azdli Band blockaded Terrane
                                           Metals’ Mount Milligan mine near
                                           Fort St. James, less than two weeks
                                                                                            The letter war
                                                                                               e following is a random sampling of quotes from hundreds of letters, emails and faxes submitted to
federal decisions isn’t “consistent” for   a er Ottawa approved that project.               the federal and provincial governments during the environmental assessment reviews. e documents
business, and Ottawa should allow               According to B.C. Supreme                   are public and can be found on the Canadian Environmental Assessment Agency’s website.
the province to grant its own mining       Court documents, the barricade
permits similar to the Yukon.              blocked companies such as Duz Cho
    Meanwhile, the Prosperity deci-        Logging from accessing the mine                                                   otential                              “Prosperity … would not only
                                                                                                             idelining p
sion, which highlighted B.C.’s First       site.                                                  ught of s                   rrisome.
Nations and permitting troubles, has            Duz Cho is a logging company            “The tho               cale is wo
                                                                                                                                                                    generate significant economic
                                                                                                     of this s                      ed
sent a negative message to the global      owned and operated by the McLeod              business                    be affect                                      activity in its own right, it
                                                                                                     ies that will
investment community at a time             Lake Indian Band, which has sup-
                                                                                          The familo’s inaby thatowill be
                                                                                            “Tasekeconomility t build
                                                                                                                                                                    would also stimulate the
when commodity prices are trad-            ported the mine.
                                                                                          and the ships withslocalg” t   in                                         development and expansion of
ing at record highs and mining com-             Meantime, Taseko said it has no             relationld be deva tat Firs Thompson,
panies are snapping up projects the        plans to give up on Prosperity.                    st wou
                                                                                           lo ions, to understandAtheir anager,
                                                                                                                           – n drew                                new and existing businesses”
world over.                                        e federal decision rejected the          Nat                                branch m
    “Bad reputations stay with you         mine “as proposed,” meaning the                                                   a nt, W liams Lake,
                                                                                            perspective … taretjust mefewilmor,e008                                                                  – Chris Nickless,
                                                                                                                   s Eq u ip               02
                                                                                                           Grea We              Octo ber 3
for a long time, and it takes a lot to     company can table a new plan.
                                                                                                 sons why it is not in the public
                                                                                            rea                                                                          South Cariboo Chamber of Com
                                                                                                                                                                                                      merce, 100 Mile
change people’s views,” Gratton said,           Dirom and Gratton both believe
pointing to the B.C. government’s          Prosperity will one day become a                  interest ere anythinthis project”
                                                                                                 “Is thto approve g I can do                                                                                  House,
decision to create a park and halt the     mine, saying it’s too valuable to be                                                         from
                                                                                                                    – Gran d Chief Stewart Phillip,
                                                                                                                                                                                                      March 26, 2010
                                                                                                  Victoria, B.C., to help prev president,
development of the Windy Craggy            ignored.                                                                                     ent                        “Clearly, Taseko Min
mine in the        s.                           Fra nco-Nevada Corp.                              this project from proceedin                                                            es, from
    “People in the investor commun-        (TSX:FNV), which had previously
                                                                                                                                          g?”                       their responses, ha
                                                                                                                                                                                        s absolutely
ity still talk about Windy Craggy          agreed to invest       million in Pros-                                                            – Ben Seaman,         no regard for their
years later … there’s still doubts out     perity, is also bullish on the project                                                        Eartheasy, Victoria,                           impacts nor
                                                                                                                                                                   considerations for
there, and a ‘yes’ decision for Pros-      and said its funding remains com-                                                                 March 25, 2010                            how they will
perity would have shattered those          mitted once Prosperity is permitted.                                                                                    impact our lives an
                                                                                                                                                                                       d our business”
                                                                                                                           an d
                                                                                                           crisis is real
doubts.”                                        “It’s a vote of con dence in us,”
    According to a recent Fraser In-       Battison said. “It’s a vote of confi-           “The economic                       s
                                                                                                               ere in William
                                                                                                                                                                                                 – Kelly Reuter,
stitute survey, B.C. ranked th out         dence in the deposit.”
                                                                                            we are living it h              ty
                                                                                                                                                                                         Taseko Lake Outfitter
of the best mining regions world-               Xenti Gwet’in Chief Marilyn                               d the Prosperi                                                  will break if this April 30, 2010
wide.                                      Baptiste said she was “sad” to hear               Lake. We nee                                                       “My heart
                                                                                                            ve forward”
        at’s up from th earlier in the     Taseko plans to pursue the project.               project to mo                     Cindy Watt,
                                                                                                                                                                 project goes ahead”
                                                                                                                                           –                                          k if this
year, but Alberta, Quebec, Yukon                “A proposal of that magnitude in
                                                                                                                                               president,         “My heart will brea Santiago Alvarez Mesa,
and Saskatchewan ranked rst, third,        that type of an area where it’s wet-
                                                                                                                                                                   project goes ahead”
                                                                                                                                                        ke,                                 January 28, 2010
                                                                                                                                       d., Williams La
fourth and h, respectively.                lands … can not be acceptable,” Bap-                                          n Jewellers Lt
                                                                                                   E. G. Woo dlan d & So              Novem be   r 4, 2008
                                                                                                                                                                                               – Santiago Alvarez Me
    In regard to environmental regu-       tiste said.
                                                                                                                                                                                                       January  28, 2010
lations and land-claim issues B.C.              None of the other Tsilhqot’in
ranked th and th out of .                  chiefs could be reached to provide           “I don’t want my traditional fishing/
    “Impact to the investment com-         their views.                                                                                               “Taseko’s in
munity? No doubt there will be an               Mayor Cook believes she might            hunting or trapping habitat                                               ability to b
                                                                                                                                                       relationship                uild
impact. … People are going to re-          be the person to broker peace be-             [being] used for a  dump site.                                             s with local
                                                                                               “Taseko’s inability to build                           Nations, to                      First
assess their decisions to invest,”         tween Taseko and First Nations, but
                                                                                          Please dump the waste in Williamts                                      understand
Dirom said.                                it won’t be easy.                                   relationships with local Firs                         perspective                     their
    But both he and Gratton agree               “I’m hopeful that with a ‘no’ deci-       Lake as they want the mine”their                                         … are just a
that B.C.’s mining “renaissance” will      sion it sends a strong message that we              Nations, to understand en Mycroft,                    reasons wh                        few more
                                                                                                                    – Colle                                      y it is not in
continue despite the decision to reject    need to do things di erently, not only              perspective … areNovemberfew2008 e
                                                                                                                   just a 20, mor                   interest to                    the public
                                                                                                                                                                approve this
Prosperity, pointing to new mines          from an environmental perspective,                  reasons why it is not in the public                                                  project”
such as Mount Milligan and Copper          but I think it speaks to a lot of things,”    “A positive result to rove this project”                                      – Grand Chie
Mountain.                                  Cook said.                                           interest to app the review                                                          f Stewart Ph
    Yet the relationship between in-            In the meantime, Taseko will               would allow even a      –lGran d Chief Stewart Philli p,                                         president,
                                                                                                               smal operator                                            Union of B. C.
                                                                                                                                                                                       In dian Chie
dustry and First Nations and dif-          await direction from Ottawa.                   like me to retain at                         president,                                                    fs,
ferent aboriginal communities is so             Without federal approval, Pros-
                                                                                                               least Unioe of B.C. ,Indian Chiefs,
                                                                                                                      fivn jobs                                                 Novem ber 12
                                                                                                                                                                                               , 2009
                                                                                          and possibly employ
fractious that even if a mine is ap-       perity will not live up to its name, and                             even more” mber 12, 2009
                                                                                                                                                                         d family
proved there’s no guarantee the op-        its riches will remain buried.
                                                                                                                        – Glen Holling,              “Our business an
position will stop.                             At press time, there were an esti-                                                                                         ect”
    The logging road to Prosperity         mated . billion pounds of copper                                                     owner,                 support the proj                       – Wes Wiebe,
                                                                                                                            RE/MAX Williams Lak
still bears evidence of a blockade that    and . million ounces of gold in the                                                                  e,
                                                                                                                                                                                                      February 26, 2010
                                                                                                                               November 1, 2008
was under construction prior to the        ground.
federal decision.                

                                                                                                              NOMINATIONS NOW OPEN!
                                                                                                              Business in Vancouver in partnership with the Institute of
                                                                                                              Chartered Accountants are pleased to announce that nominations
                                                                                                              are open for the inaugural BC CFO of the Year Awards to be held
                                                                                                              in May of next year.

     F   inalists will be chosen based on leadership in nance, contribution to
         strategic decision making and growth as well as overall performance
     and execution. The award nalists will be featured in a special edition
                                                                                                                                     Nomination deadline: January 28th, 2011
                                                                                                                        Special BIV edition and gala awards reception: May 2011
     of Business in Vancouver and the winners will be announced at the gala                                                             For more information and to submit a
     reception to be held soon thereafter.                                                                                                nomination package, please visit
        Don’t miss out on the opportunity to nominate someone for this                                                               
     highly prestigious award!

     Sponsored by:
   6     NEWS                                                                        Daily business news at                 Business in Vancouver December 21–27, 2010

                              Chasing Prosperity
                                                                                                                                                                            PART 4

full disclosure
                              Ottawa has shut down Taseko Mines’ Prosperity project for now, but its decision
                              has underscored one issue the company, the industry and First Nations all agree
                              on: changes are needed in the country’s byzantine resource permitting process

                              In a four-part series that began in issue 1101 (November 30-December                 cision to reject Prosperity is a legacy
                              6), Business in Vancouver takes a closer look at Vancouver-based
                              Taseko Mines’ proposed Prosperity project. The company says the
                                                                                                                   of Canada’s complex permitting pro-
                                                                                                                   cess.                                       Mayor lobbies
                                                                                                                       “ e decision shed light on a pro-
                              $800 million mine would stimulate significant economic activity in a
                              depressed part of the province, but the federal government rejected
                                                                                                                   cess that’s awed … so let’s take this
                                                                                                                   moment now to … make a change,”
                                                                                                                                                               feds to rethink
                              the project citing environmental concerns. In this final instalment, BIV
                              focuses on the project’s future and how the federal decision will affect
                                                                                                                   Dirom said.
                                                                                                                       But in the wake of the Prosperity
                                                                                                                                                               Prosperity decision
                              the industry and the province’s resource permitting process.                         decision an even bigger problem has         By Joel McKay
                              By Joel McKay                                                                            Although industry experts, en-
                                                                                                                   vironmentalists and First Nations           W      illiams Lake Mayor Kerry
                                                                                                                                                                      Cook travelled to Ottawa

                              W       hile driving back from Ques-
                                      nel last summer, Williams Lake
                              Mayor Kerry Cook stopped at a gas
                                                                                                                   agree the permitting process is deeply
                                                                                                                     awed, they don’t agree on what those
                                                                                                                     aws are.
                                                                                                                                                               earlier this month to lobby on be-
                                                                                                                                                               half of Taseko Mines’ (TSX:TKO)
                                                                                                                                                               Prosperity project.
                              station on the Soda Creek reserve.                                                       Opponents to mining projects say            The federal government re-
                                  When she entered the store to pay                                                the provincial process caters to the        jected the massive copper-gold
                              for her gas, Cook noticed a peculiar                                                 industry, pointing to the fact that no      project November citing en-
                              sign beside the cash register: “We sup-                                              proposal handed to Victoria has ever        vironmental concerns.
                              port the Prosperity mine.”                                                           been rejected.                                  Cook, who believes Prosper-
                                  It sounds like a contradiction of the                                                During Prosperity’s federal re-         ity would generate significant
                              aboriginal attitude toward Taseko’s                                                  view, Bruce Stadfeld, legal counsel         economic bene ts for her region,
                              proposed project.                                                                    for the Canoe Creek Indian Band,            rolled into the nation’s capital
                                  A er all, First Nations, most nota-                                              said the provincial process is not          with a retinue of Cariboo-Chil-
                              bly the Tsilhqot’in National Govern-                                                 transparent, not credible, has no           cotin politicians who support the
                              ment, were its most vocal opponents.                                                 meaningful First Nations compon-            project.
                                  But, according to Cook, the tiny gas    Williams Lake Mayor Kerry Cook: “I’m     ent and has an in exible timeline.              First Nations were not among
                              station sign symbolizes the complex         hopeful that with a ‘no’ decision it         “A colleague of mine describes it       the delegates.
                              relationships in B.C.’s central interior,   sends a strong message that we need      as getting on the Canada Line: once             The group met with federal
                              a point that was largely forgotten amid     to do things differently”                you’re on you’re assured of your des-       Transportation Minister Chuck
                              the clamour of voices for and against                                                tination and businesses know that,”         Strahl, Environment Minister
                              Prosperity.                                 ceived,” Cook said.                      Stadfeld said.                              John Baird, Fisheries and Oceans
                                  “ at’s the perspective that’s mis-          Walter Cobb, president of the Wil-       “That’s why they opt in, but it         Minister Gail Shea and Treasury
                              sing in some of the bigger media,”          liams Lake & District Chamber of         shows First Nations that it’s not a         Board President Stockwell Day.
                              Cook said. “When you’re talking to          Commerce, agreed.                        credible process because it has no              “We were able to convey just
                              people one-on-one it’s very well known          “ ey were very misinformed on          exibility.”                               how important this project is
                              we need those opportunities. ere are        not only what this project would do          Critics have called Ottawa’s deci-      to our region, and that message
                              outstanding land-use and title issues       but the impacts it would have,” Cobb     sion to reject Prosperity a blow to the     was received loud and clear,” said
                              that are de nitely in the way of mov-       said.                                    provincial process, but Taseko’s vice-      Cook.
                              ing forward, [but] I am hopeful that            And that, industry experts say, is   president corporate a airs Brian Bat-           She said the federal govern-
                              we’ll be able to get people … back to       the biggest problem with the permit-     tison disagrees.                            ment committed to provide clari-
                              the table talking.”                         ting process for mines in Canada to-         “Why wouldn’t it be a blow to the         cation about its decision to re-
 “Ottawa’s ability                    at’s why she and nine delegates     day.                                     federal process? … The findings of          ject the mine and suggest the next
                              from the region travelled to Ottawa             “Ottawa’s ability to determine our   the panel and the province were very,       steps forward before December
 to determine our             recently to ask the federal government      destiny or growth is disproportion-      very similar, it’s what the federal pol-      .
                              what needs to be done for the project       ate to the amount of jurisdiction they   iticians did with it a er the process
 destiny or growth            to be reconsidered.                         should have,” explained Pierre Grat-     concluded that is the most telling,”       approved the project while former fed-
 is disproportionate              What was supposed to be a half          ton, president and CEO of the Min-       Battison said.                             eral environment minister Jim Pren-
                              hour meeting with a few federal minis-      ing Association of BC. “They’re so           He added that both processes used      tice did not.
 to the amount of             ters turned into a discussion that lasted   far from here they seem, frankly, out    the same information, the same terms           Dirom said the federal decision-
                              more than an hour and carried into a        of touch.”                               of reference and, largely, reached the     making process is not as transparent
 jurisdiction they            second meeting.                                 Gavin Dirom, president and CEO       same environmental conclusions.            as B.C.’s because, apart from Prosper-
                                  “It was clear that there were gaps      of the Association for Mineral Ex-              e di erence is that Victoria, in    ity’s environmental e ects, the public
 should have”                 in some of the information they re-         ploration BC, believes Ottawa’s de-      light of Prosperity’s economic bene ts,    doesn’t know how the federal govern-
          – Pierre Gratton,
        president and CEO,
   Mining Association of BC

Shared By: