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Dear Editor,

This is a copy of the speech given to Williams Lake Chamber of Commerce Board of Directors and members during Annual General Meeting on October 29, 2009

Exactly one year has passed since I stood before you to reassure your members that despite the steep drop in commodity prices, coupled with the wholly exceptional collapse of world financial markets, the Gibraltar Mine was successfully riding out the storm …

… and that the people and businesses of Williams Lake and the Cariboo, baring a worsening disaster, could continue to rely on the contribution Gibraltar makes …

… we would continue to generate over $300 million in annual revenue accruing to the province,

… we would continue to maintain our core workforce …

… we would continue the spending of some $30 million per year in salaries, the vast majority of which flows directly into the community of Williams Lake …

… and we would continue our approximate $100 million in annual spending, purchasing the goods and services required to operate that remarkable facility.

I am happy to tell you today, that we’ve done all of that … the Gibraltar Mine continues to hum along 24 hours a day 7 days a week extracting copper and delivering opportunities for people.

Today, my remarks will be directed not to our Gibraltar Mine, but will instead be directed to the future potential development of our new mine -- Prosperity.

The Prosperity Gold-Copper Project, 125 km southwest of here, is undergoing two environmental assessment review processes -- one provincial and one federal.

The provincial process, conducted by the Environmental Assessment Office, is nearing the final phase of its work.

We expect that office to refer the report to provincial ministers on or before December 7th.

The Ministers of Environment and Energy Mines and Petroleum Resources will then have 45 days by which to render a final decision on the project. Barring any unforeseen process delays, we expect a decision by the provincial government on or before January 20, 2010.

The federal process, conducted by an independent 3-person Panel is now, disappointingly, not expected to begin conducting formal public hearings until January, at the earliest. How long this process will take is unknown and uncertain.

We had hoped, and we were informed by the federal government, that the panel process phase of the review would be completed by October. They have failed to do so.

READ MORE HERE >>

Brian Battison
Vice President, Corporate Affairs
Taseko Mines Limited

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