Taseko Mines Ltd. (TKO-T4.690.091.96%) has issued an open letter to British Columbians assuring those who hung their hopes on the Prosperity gold and copper mine that the company isn't giving up.
Last week, the federal government rejected the $1-billion mine proposal, located 125 kilometres southwest of Williams Lake, citing environmental concerns.
In a letter published in several newspapers today, Taseko president and CEO Russell Hallbauer says Ottawa's decision was a huge disappointment not just for the company, but for the provincial government and local residents.
Mr. Hallbauer says the company is fully committed to Williams Lake and the Cariboo region, and it plans to submit a new proposal after carefully studying the reasons Ottawa rejected its original plan.
He says the company agrees the project should be done with the highest regard to the environment, and it will work to address the federal government's concerns.
The project was approved by a provincial government environmental review, but rejected the federal government's environmental process.