Taseko Mines Ltd. and Tsilhqot'in Nation Sign Historic Agreement for New Prosperity Project
- Taseko Mines secures a landmark agreement with the Tsilhqot'in Nation for the New Prosperity Project, enhancing collaboration.
- Taseko retains a 77.5% interest in mineral tenures, committing 22.5% equity to benefit the Tsilhqot'in Nation.
- The agreement sets a precedent for respectful partnerships between mining companies and Indigenous communities across Canada.
Historic Reconciliation: Taseko Mines and Tsilhqot'in Nation Forge New Path for New Prosperity Project
Taseko Mines Limited announces a landmark agreement with the Tsilhqot'in Nation and the Province of British Columbia regarding the New Prosperity Project, a substantial copper-gold deposit located 125 kilometers southwest of Williams Lake. This project holds an impressive 5.3 billion pounds of copper and 13.3 million ounces of gold, making it a critical asset for Taseko’s operations. The agreement, reached on June 6, 2025, marks the conclusion of years of negotiations and ongoing litigation, establishing a framework for future development that respects the cultural significance of the area to the Tsilhqot'in people.
Under the terms of the agreement, Taseko retains a 77.5% majority interest in the mineral tenures. In addition, the Province of British Columbia commits to a $75 million payment upon closing the deal. Notably, Taseko will contribute 22.5% equity in the tenures to a trust designed to benefit the Tsilhqot'in Nation. This arrangement underscores a commitment to ensuring that any mineral exploration or development will require the Tsilhqot'in's free, prior, and informed consent. The collaborative spirit of this agreement sets a precedent for future interactions between mining companies and Indigenous communities, emphasizing the importance of mutual respect and understanding.
Both the Tsilhqot'in Nation and the Province of British Columbia are dedicated to a collaborative land-use planning process, which includes negotiating the methods by which consent will be sought for any proposed mining projects. Taseko's President & CEO, Stuart McDonald, describes the agreement as a significant step towards reconciliation that acknowledges the company's commercial interests while also respecting the Tsilhqot'in people's rights and cultural heritage. Leaders from all parties involved have positively received the agreement, recognizing its potential to foster a more harmonious relationship between the mining sector and Indigenous communities.
In this development, Taseko Mines demonstrates its commitment to balancing economic interests with social responsibility, paving the way for sustainable mining practices that honor Indigenous rights. This agreement not only provides a clear path forward for the New Prosperity Project but also serves as a model for future partnerships between resource companies and Indigenous nations across Canada.
As the mining industry faces increasing scrutiny over environmental and social governance, Taseko’s proactive approach in engaging with the Tsilhqot'in Nation illustrates a significant shift towards more inclusive and responsible practices. This agreement could influence how other mining companies navigate similar relationships and foster greater collaboration with local communities.
