Taseko Mines reaches three-way agreement to resolve New Prosperity dispute

June 06, 2025 04:27 AM PDT | By EODHD

Google News:

Taseko Mines reaches three-way agreement to resolve New Prosperity dispute — Image source: Kalkine Media

Recent News

Kalkine Valens Semiconductor Joins NYSE Composite Amid Rising Sector A...

Kalkine FinVolution Group’s Role in the NYSE Composite Landscape

CoreCard Co. Listed in Russell 1000 Index by Kalkine

S&P 500 Chart with Kalkine Key Trends and Market Movements

[Copper raw industry] FactoryTh/iStock via Getty Images Taseko Mines (NYSE:TGB [https://seekingalpha.com/symbol/TGB]) +1.9% pre-market Friday after saying it reached an agreement with the Tŝilhqot'in Nation and British Columbia's provincial government to resolve a long-standing dispute [https://seekingalpha.com/pr/20128645-taseko-tsilhqotin-nation-and-province-of-bc-reach-historic-agreement-concerning-the-new] over its New Prosperity mineral tenures. The mineral tenures had been the subject of numerous legal actions by the Tŝilhqot'in Nation since Taseko (NYSE:TGB [https://seekingalpha.com/symbol/TGB]) began proposing the project to the federal and provincial governments in 1995. Under the deal terms, Taseko (TGB [https://seekingalpha.com/symbol/TGB]) will retain a 77.5% interest in the New Prosperity mineral tenures after contributing a 22.5% equity interest to a trust for the future benefit of the Tŝilhqot'in Nation, and commits not to be the operator of future mineral exploration and development activities at New Prosperity, and that it can divest its interest from the site at any time, including to other mining companies. The B.C. government said it will make a one-time $75M payment to Taseko (TGB [https://seekingalpha.com/symbol/TGB]) as part of the agreement and all litigation related to the New Prosperity project has been terminated.

The nation said the agreement ensures that "no mineral exploration or mine development can occur on the New Prosperity mineral tenures without the free, prior informed consent of the Tŝilhqot'in Nation." New Prosperity is among the largest copper-gold deposits in Canada, with measured and indicated resources estimated at 5.3B lbs of copper and 13.3M oz of gold. MORE ON TASEKO MINES LIMITED * Digging Into Taseko Mines: A Hidden Gem In The Copper Boom [https://seekingalpha.com/article/4791984-digging-into-taseko-mines-a-hidden-gem-in-the-copper-boom] * Taseko Mines Is Structurally Weak, But Florence Copper Changes The Math [https://seekingalpha.com/article/4788024-taseko-mines-is-structurally-weak-but-florence-copper-changes-the-math] * Taseko Mines Q1 2025 Earnings Call Transcript [https://seekingalpha.com/article/4781247-taseko-mines-limited-tgb-q1-2025-earnings-call-transcript]

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations, and video (Content) is a service of Kalkine Media LLC., having Delaware File No. 4697309 (“Kalkine Media, we or us”) and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media.
The content published on Kalkine Media also includes feeds sourced from third-party providers. Kalkine does not assert any ownership rights over the content provided by these third-party sources. The inclusion of such feeds on the Website is for informational purposes only. Kalkine does not guarantee the accuracy, completeness, or reliability of the content obtained from third-party feeds. Furthermore, Kalkine Media shall not be held liable for any errors, omissions, or inaccuracies in the content obtained from third-party feeds, nor for any damages or losses arising from the use of such content. Some of the images/music that may be used on this website are copyrighted to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures/music displayed/used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it, as necessary.
This disclaimer is subject to change without notice. Users are advised to review this disclaimer periodically for any updates or modifications.