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Taseko, T?ilhqot'in Nation & Province of BC Reach Historic Agreement Concerning the New Prosperity Project
VANCOUVER, British Columbia, June 05, 2025 (GLOBE NEWSWIRE) -- Taseko Mines Limited (TSX: TKO; NY...
About this update from Taseko Mines Limited
[{"type":"text","content":"Taseko, Tŝilhqot'in Nation & Province of BC Reach Historic Agreement Concerning the New Prosperity Project\n\n\n\n VANCOUVER, British Columbia, June 05, 2025 (GLOBE NEWSWIRE) -- Taseko Mines Limited (TSX: TKO; NYSE American: TGB; LSE: TKO) (“Taseko” or the \"Company\"), the Tŝilhqot'in Nation and the Province of British Columbia (“BC”) today announced the signing of an agreement (the “Agreement”) to resolve a complex, long-standing conflict concerning Taseko’s New Prosperity mineral tenures, located approximately 125 kilometers southwest of Williams Lake, British Columbia in the Teẑtan Biny (Fish Lake) area of Tŝilhqot’in territory. New Prosperity is one of the largest copper-gold deposits in Canada, with a measured and indicated mineral resource containing 5.3 billion pounds of copper and 13.3 million ounces of gold\n \n 1\n \n .\n \n\n Negotiated over a period of years, the Agreement ends litigation among the three parties, while providing certainty with respect to how the significant copper-gold resource at New Prosperity may be developed in the future. In resolving a high-profile conflict between the rights of resource developers and First Nations, the Agreement meaningfully advances the goals of reconciliation in British Columbia.\n \n\n Stuart McDonald, President & CEO commented, “\n \n This Agreement resolves a damaging and value-destructive dispute, and acknowledges Taseko’s commercial interests in the New Prosperity property and the cultural significance of the area to the Tŝilhqot’in Nation. Taseko will retain a majority interest (77.5%) in the mineral tenures, while any future development at New Prosperity will benefit the Tŝilhqot'in\n \n\n people, and will only\n \n\n occur with their free, prior and informed consent\n \n .\n \n\n\n “We thank all the parties for their contributions at the negotiating table and their commitment to the multi-year dialogue that has led to this historic agreement.\n \n ”\n \n\n Key elements of the Agreement include:\n \n\n\n Taseko will receive a payment of $75 million from the Province of BC on closing.\n \n\n Taseko will contribute a 22.5% equity interest in the New Prosperity mineral tenures to a trust for the future benefit of the Tŝilhqot...