Feds Reject Billion Dollar Mine

[maryjane48]

http://www.bloomberg.com/news/2014-01-2 ... laims.html

[westbeach]

Taseko clearly has no respect for the environment. They wanted to drain a lake...called fish lake... and then use it as a tailings pond... That's just ridiculous and ignorant as hell. Either come up with a plan that has the least impact on the environment or another company should take over.

[Merry]

The fact that some of you keep harping on about Taseko wanting to drain a lake, when that proposal was discarded following the Feds first refusal, illustrates how ill informed many of you are about this project. And that's scary, because it's ill informed folks just like you who are doing their very best to block it. If you take the time to educate yourselves about what is being proposed, and what has already happened, and you are still opposed, then that is your right. But working to prevent something that would be a huge economic boom in an area with an already depressed economy, without knowing all the facts first, is just plain irresponsible.

It's true that Taseko is partly to blame for much of this mess, because they didn't take the time to discuss all the issues in a meaningful, respectful way with the First Nations prior to asking for the Government's approval. They also did a terrible PR job when it came time to "sell" the idea to the General Public. They improved their PR later on, but by then the damage was already done. Add to that the politics (on-going negotiations with native groups regarding the Northern Pipeline, plus a Federal election next year) and I think this proposal is dead in the water for years to come.

But one day, it WILL be brought back to the table and, I'd like to think that, the final decision will be made on common sense rather than on emotion. And for that to happen, it is important that people get themselves in a position to make an informed decision, by taking the time to learn all the facts before leaping to conclusions.

Without industrial development our modern lifestyles would not be possible, but it is a fact of life that industrial development does have a negative impact on the environment. No argument there. Every road we build, every tree we cut, every telephone cable we lay, all of it DOES have a negative impact on the environment. But are we prepared to give up our refrigerators, our washing machines, our cars, our smart phones, our Playstations, going to the movies, flying to Mexico, or anything else you can think of? I suspect the answer is a big resounding NO.

Recycling is admirable, but the truth is that recycling alone is not enough to maintain our current lifestyle. So, if we don't want to allow any new mines to be built (or any new industrial development at all for that matter) then we'd better get used to the idea that we're going to experience a BIG reduction in our standard of living. We simply can't have it all ways. So which is it going to be?

[Merry]

I don't normally pay much attention to this guy, but on this particular issue he's spot on:

http://www.ezralevant.com/feds-kibosh-n ... -proposal/

[Merry]

Taseko clearly has no respect for the environment. They wanted to drain a lake...called fish lake... and then use it as a tailings pond...

Not true - check your facts

come up with a plan that has the least impact on the environment

They already did come up with another plan, and that new plan (which would not involve draining Fish Lake) has now also been rejected.

[hobbyguy]

The interesting dynamic in the Taseko process is that it has indeed gone the full due process. Both provincial and federal reviews.

That's actually the right way to go about it.

The other interesting thing is that the decision has been handled by Environment Minister Leona Aglukkaq. Not Joe Oliver, who has his hands all over the pipeline reviews.

And it's not "done" yet. My guess is that this mine will go ahead, but with even better environmental protections. Nothing wrong with that.

I don't expect our governments to willy nilly approve every proposed project.

Mining has been growing strongly in BC. http://www.mining.com/mining-in-canada-b-c-remains-strong-but-facing-labour-indigenous-issues-93888/

[Merry]

I doubt there are many who would approve "willy nilly" approval of such project HG, but the reasons given for denying this particular project seem out of step considering other projects have been approved that similarly affect the environment.

As I stated earlier, ALL human activity has a negative impact on our natural environment; industry in particular. It's a matter of degree, and what can be done to mitigate it, plus the old benefits versus the risk argument, that must ultimately decide what we allow and don't allow. The generalizations given for not allowing this particular proposal don't seem to meet that standard.

[grammafreddy]

WANT A JOB?

Skilled worker shortage

The challenge of lack of skilled workers became intertwined during the past year with a controversy over the use of temporary foreign miners.

The one issue B.C. authorities did not refer to, was the looming shortage of skilled workers they are facing, with some suggesting thousands of new workers will be required over the next decade.

The Mining Industry Human Resources Council estimates the province will need more than 10-thousand workers by 2023, while the countrywide figure is more than 100-thousand.

From hobbyguy's link.

Perhaps the mining companies should establish their own training programs so there will be workers for them - trained to their machines and their standards and way of doing things.

[flamingfingers]

^^But GF - that would cost the companies MONEY!
For the government to provide funding for training programs for BC/Canadians would cost MONEY!!

Far easier to let these companies complain there are no 'eligible' candidates here in BC/Canada to hire so they can justify hiring Temporary Foreign Workers at lower wages to work for months and years and send their earnings back to their home countries. (Doesn't make a lot of sense to me either but I guess that is corporatism).

[callotto]

If you had a company with a good mining prospect in BC why would you even attempt this process?
This is the death of mining projects n BC. I hope showing Chinese tourists our wonderful scenery creates enough tax revenue to pay for our healthcare!

[Merry]

Perhaps the mining companies should establish their own training programs so there will be workers for them - trained to their machines and their standards and way of doing things.

It's not just mining companies that are short of skilled workers, almost every industry is. The problem is that, as usual, nobody wanted to cover the cost of training people, relying instead on what they've always done, which is wait for a crisis and then bring them in from overseas. But this time the strategy has blown up in their faces, because most of our "traditional" places for finding such immigrants are experiencing shortages of skilled workers themselves.

The reason for the shortage is that Baby Boomers are beginning to retire, and industry didn't prepare for that eventuality by hiring more apprentices while they still had time to train them. And FF is right, it all comes down to not wanting to cover the cost.

[Smurf]

Maybe companies and people are just going to have to lower their profits a bit. Maybe the days of double digit profits are over and it is time to start looking after the house in general. This might create an atmosphere of profits that will continue for years to come. Build the middle class back up and fuel consumerism.

[Rwede]

Maybe companies and people are just going to have to lower their profits a bit. Maybe the days of double digit profits are over and it is time to start looking after the house in general. This might create an atmosphere of profits that will continue for years to come. Build the middle class back up and fuel consumerism.

Good grief. That would be the toll of death for investment in this province.

Why would anyone risk billions for a minimal return? Might as well throw it into bonds and LT money markets and make 5% rather than take huge risks to make a few pennies more.

The left doesn't have much concept of what it means to be a venture capital investor, and that's where these nutty ideas come from.

[grammafreddy]

The left doesn't have much concept of what it means to be a venture capital investor, and that's where these nutty ideas come from.

Dragon's Den???

[Rwede]

^^^ If all you understand about finance, economics, and investing comes from a staged TV show, then we're worse off than I thought.